ITFC Financing for Egypt’s EGPC Tops $17.4 Billion, With $3.35 Billion Approved in 2026
The International Islamic Trade Finance Corporation has provided the Egyptian General Petroleum Corporation with more than $17.4 billion, including $3.35 billion approved this year, its chief executive said.
For Egypt’s fuel market, the financing works as a supply line: the ministry says ITFC’s programmes help secure part of the domestic market’s needs for petroleum products. In The Edge’s reading, $3.35 billion approved in a single year points to a continuing financing relationship.
ITFC says it approved $3.35 billion for EGPC in 2026
Petroleum and Mineral Resources Minister Karim Badawi met Adeeb Yousuf Al Aama, chief executive of ITFC, and his delegation on Thursday 5 November. The two sides discussed ways to deepen cooperation and reviewed the financing programmes provided to Egypt’s petroleum sector.
Al Aama described the relationship with EGPC as close and strategic. He said the total ITFC has provided to EGPC is more than $17.4 billion, and that $3.35 billion of it was approved for EGPC during 2026.
He tied the figures to energy supply, saying they reflect ITFC’s aim of keeping the energy supplies that drive production and development in Egypt flowing. He also affirmed ITFC’s full commitment to continue offering integrated financing and trade solutions for Egypt’s energy sector.
ITFC financing figures (in $ billions)
| Measure | Value |
|---|---|
| Provided to EGPC, cumulative | more than 17.4 |
| Approved for EGPC during 2026 | 3.35 |
| ITFC cumulative trade finance approvals since 2008, all member countries | more than 100 |
EGPC figures as stated by ITFC’s chief executive in the ministry’s release of 5 November 2026; the start year of the EGPC total is not given. The all-countries figure is from the corporation’s own release of 26 October 2026.
The ministry pairs ITFC financing with output and refining goals
Badawi said the ministry wants to deepen its partnership with ITFC and widen cooperation in the coming period. He praised the corporation’s role in providing the financing the petroleum sector needs and in supporting its efforts to secure energy supplies.
The minister set out two parallel tracks for meeting local demand for petroleum products and natural gas. The first is more exploration and field development work with investment partners, to raise domestic output.
The second is higher refinery efficiency and fuller use of operating capacity, to make more petroleum products at home and import less.
Badawi also pointed to the state’s expansion of renewable energy, carried out by the Ministry of Electricity and Renewable Energy. The aim is a larger renewable share of the power generation mix, which cuts conventional fuel use and frees fuel for other purposes.
The meeting closed with both sides affirming continued coordination toward a long-term partnership supporting energy security and economic development in Egypt.
ITFC’s approvals across member countries have passed $100 billion
ITFC is the trade finance and trade development arm of the Islamic Development Bank Group. On 26 October it said its cumulative trade finance approvals had passed $100 billion since it began operations in 2008.
More than one third of those approvals went to Least Developed Countries. The corporation describes its role as countercyclical: it kept financing critical trade flows through financial crises, the pandemic and recent geopolitical shocks, when commercial trade credit tightened.
In 2025 alone, operations it supported contributed to food access for an estimated 24 million households and electricity access for an estimated 17.8 million. They also reached an estimated 460,000 farmers and gave 546 corporates and SMEs access to finance.
The corporation plans to scale up trade finance, draw in more private and institutional capital and expand digital trade finance. It set out those plans as the IsDB Group implements its Ten-Year Strategic Framework for 2026 to 2035 and its Five-Year Corporate Strategies for 2026 to 2030.
Method: figures are from the Ministry of Petroleum and Mineral Resources’ Arabic release on the minister’s meeting with the corporation’s chief executive, dated 5 November 2026, and from the corporation’s own release of 26 October 2026; no figure in this article is The Edge’s calculation.
Sources: Ministry of Petroleum and Mineral Resources (Egypt), International Islamic Trade Finance Corporation, The Edge.
