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Egypt to receive USD 235m loan from Int''l Islamic Trade Finance

CAIRO, Sept 30 (KUNA) -- Egypt will receive an Islamically-orientated loan worth USD 235 million from the International Islamic Trade Finance Corp. to help fund purchases of essential commodities, it was announced here on Sunday.
The funds will be provided to the state-run Egyptian General Petroleum Corp. during a signing ceremony attended by Egypt's Minister of Finance Mumtaz Al-Saeed, he said in a statement.
According to the agreement, the Finance Ministry will assume paying back the loan, if in the case the Egyptian General Petroleum body cannot fulfill its obligations. (end) asm.sd KUNA 301545 Sep 12NNNN