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Planning Minister discusses ways of cooperation with International Islamic Trade Finance Corporation



Planning Minister discusses ways of cooperation with International Islamic Trade Finance Corporation

Dr. Hala Al-Saeed, Minister of Planning and Economic Development and Governor of Egypt at the Islamic Development Bank Group, met with Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation and CEO by Interim International Islamic Society for the Private Sector. , with the team of the two institutions, in order to monitor the status of cooperation issues between Egypt and the institution.

During the meeting, Hala Al-Saeed praised the efforts of the International Islamic Trade Finance Corporation within the framework of the institution’s annual work program with Egypt for the year 2024, signed last February for $1.5 billion, with the Egyptian General Authority for Supply Commodities and the Egyptian General Petroleum Corporation.

Al-Saeed indicated the start of steps to manage the second phase of the Women in International Trade project in Egypt (She Trades 2), in light of the Al-Eftias 2 program allocating a budget of 350,000 dollars, and the Islamic Bank of development and amount of $150,000 for the project, specifying that the technical meeting of the project management committee took place.

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The Minister of Planning and Economic Development thanked engineer Hani Sonbol for the invitation to participate in the meeting of the Board of Governors of the Jusoor program for the year 2024 in the sister Republic of Tunisia next July, including Egypt hosted the third meeting in March. 2022 in Cairo, in the presence of 10 ministers of member states and heads of member institutions, she explained that during the meeting the handover ceremony of the presidency of the Board of Governors of the Program of Egypt to the Tunisia, welcoming the continuation of efforts to develop the fourth annual program for the benefit of the Arab Republic of Egypt (within the framework of the Arab-African trade bridges program), followed by the signing of a memorandum of understanding between the ministry of Commerce and Industry and the Foundation to launch the annual program.

Al-Saeed also praised the results of the activities implemented within the third annual program under the Jusoor program, which included sending trade missions of Egyptian companies to participate in meetings of exporters and importers in the pharmaceutical, food, agricultural and mechanical industries sectors, in Tunisia, Morocco, Congo and Algeria, during the years 2022 and 2023.

Regarding the training programs between the two parties, Al-Saeed praised the results of the cooperation within the framework of the ongoing implementation of the qualification and training program of 50 women for export in the fields of crafts and heritage, which aims to support the capacities and develop the export capacities of 50 projects owned or managed by women in the crafts and heritage sector. She also welcomed the results of the Step Towards Export Training Program (STEP), which is implemented in cooperation between the International Islamic Trade Finance Corporation, the Foreign Trade Training Center and the Micro Development Agency, small and medium-sized enterprises, which saw the graduation of its first class, on the sidelines of the signing ceremony of the Foundation’s annual work program with Egypt for the year 2024, with 200 trainees from different governorates of the Republic, including 20 disabled people, who have since graduated. the start of training program activities in January 2023.

Al-Saeed highlighted the willingness of the Ministry of Planning and Economic Development to coordinate with the Ministry of Trade and Industry and the Micro, Small and Medium Enterprises Development Agency in monitoring the implementation of the second phase of the export training program (STAGE 2) in cooperation with the Foreign Trade Training Center of the Ministry of Trade and Industry.

Al-Saeed praised the results of cooperation between the Trade Development Fund and the Misr Al-Khair Foundation within the framework of the “Bab Rizq” project, through the creation of a furniture production unit, complete with components and planning, in the governorate of Beni Suef. , to enable a number of beneficiaries to economically and professionally produce distinguished furniture products, explaining that the project resulted in the creation of economic activity in the projects adjacent to the market production unit of the center of ‘Al-Wasta.

For his part, engineer Hani Sonbol underlined the concern of the two institutions he heads to continue supporting the Arab Republic of Egypt in basic sectors such as energy, food products, the private sector, in particularly small and medium-sized businesses, and support for women. in trade under the Iftayas Program and the Arab-African Trade Bridges, looking forward to increased cooperation in various fields and sectors in line with Egypt’s national development strategy.

Regarding the existing areas of cooperation between Egypt and the International Islamic Foundation for Private Sector Development, Al-Saeed highlighted the aspiration to strengthen the means of cooperation between the Foundation and the Egyptian Sovereign Fund, the investment arm of the State, in accordance with the axes of the National Structural Reform Program, the State Property Policy Document and other national plans and strategies that aim to encourage the Egyptian private sector, within the framework of the development an integrated strategy that explains the support mechanisms for activities. of the Egyptian private sector through its various financing services, so that this strategy represents a roadmap for cooperation between the two parties in this area.

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