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Wednesday, February 21, 2024

Launch Partners

IsDB’s private arm signs US$120 million program to propel private sector-led development in Egypt in 2023

EGYPT: The Islamic Corporation for the Development of the Private Sector (ICD) has signed a new program worth US$120 million for the year 2023 to propel private sector-led development in Egypt, a press release read.

The program includes expanding credit lines for financial institutions operating in Egypt, worth a total amount of US$80 million, to support private sector companies, particularly SMEs. The ICD will also provide financing for private sector companies and infrastructure projects, worth a total value of US$40 million.

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