09.03.2012 - Egypt to get $1.2 bln financing from Islamic trade group
Egypt signed an agreement to borrow $400 million a year for three years from the International Islamic Trade Finance Corp. to help fund purchases of fuel and wheat, the state-run Middle East News Agency said, citing International Cooperation Minister Fayza Aboulnaga. The funds will be provided to the state-run Egyptian General Petroleum Corp. and the General Authority for Supply Commodities, which imports wheat for the North African country, Aboulnaga said at a press conference in Cairo today, according to MENA. It carries an interest rate of 3.75 percent, she said...............................................Full Article: Source
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