The Egyptian General Petroleum Corporation (EGPC) received $1.455 billion in financing from the International Islamic Trade Finance Corporation (ITFC) in 2025 to help meet the country's petroleum product requirements and support broader economic stability. The funding was discussed during a meeting between Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, and ITFC CEO Adeeb Yousef Al-Aama, where both sides explored expanding cooperation across strategic sectors. Badawi underscored the ITFC's role as a key partner not only in the petroleum sector but also across other vital areas. He expressed interest in extending collaboration to the mining sector, which is currently undergoing major reforms aimed at attracting large-scale investment and boosting operational performance. Al-Aama reaffirmed the ITFC's commitment to delivering integrated financial and commercial solutions tailored to Egypt's energy needs. He also confirmed the corporation's readiness to support EGPC in implementing new petroleum and gas projects, noting that energy security remains central to sustainable development. The meeting also addressed Egypt's recent efforts to modernise infrastructure and reinforce investor confidence—not only to raise production but also to generate added value from natural resources. Badawi referred to the agreement signed with Cyprus to transport Cypriot gas to Egypt for liquefaction, enabling its re-export to Europe and local industrial use. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
