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Egypt signs $1.6 bln deal with ITFC to finance work programs for 2025

Egypt and the International Islamic Trade Finance Corporation (ITFC) signed a $1.6 billion deal on Monday to finance the annual work program.

Loans surged 64% and deposits grew 29%, underscoring strong financial growth.

A $75 million loan led by Banque du Caire will help fund 45.5% of Cheiron Egypt Delta's $165 million gas field project.

Egypt is focused on boosting macroeconomic stability and private sector growth.

Pushed by regional investor purchasing, the Egyptian Exchange (EGX) was able to rally and close on a positive note this Thursday.

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