Food Commodities Imports Financing Project

Egypt

The government of the Arab Republic of Egypt (ARE) has requested ITFC to mobilize up to US$300 Mn, on a best effort basis, to finance the purchase of food commodities. The goods are of strategic importance to the country and the government will be providing a guarantee as a security for the payment obligation under the financing. The syndicate banks would all be taking the credit risk of the government of Egypt. The proposal is for OPEC Fund to participate with an amount of US$10 Mn. This is OPEC Fund's 3rd facility food imports to Egypt under ITFC Syndication. The facility will run concurrently with the other two facilities (Project 14201 for US$20Mn and Project 14053 for US$10Mn).