Egypt Secures $100 Million Islamic Bank Financing to Boost Private Sector Growth

• Agreement focuses on expanding Islamic finance and lending to businesses
• Funding to support SME growth, Sukuk issuance, and trade between Arab and African nations

Egypt has signed a $100 million financing deal with the private-sector arm of the Islamic Development Bank (IsDB) to expand Islamic finance and enhance lending to businesses. The agreement is part of Egypt’s 2025 “country work programme” with the Islamic Corporation for the Development of the Private Sector (ICD), an IsDB unit, with a focus on driving economic growth through private investment, the bank said in an emailed statement.