Planning Minister Hala El-Said (Photo: Al-Ahram)
Sonbol said the agreement includes financing imports of energy products and essential commodities.
In 2022, Egypt signed a similar agreement, also worth $1.5 billion, with the ITFC, which is headquartered in Jeddah, Saudi Arabia.
The financing cooperation portfolio between Egypt and the corporation totals $14.5 billion so far, Planning Minister Hala Al-Saeed said at a signing ceremony in Cairo, MENA reported.
The package aims to strengthen the country's ability to mitigate Covid-19's economic and social repercussions, as well as the successive developments in the international arena as a result of the Russian-Ukrainian crisis, she said.
The minister added that the deal is within the framework of a 2018 agreement between Egypt and the ITFC that was renewed in 2022 for an additional five years, with an amendment to the credit limit of the agreement from $3 billion to $6 billion.
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