New Horizons for Egypt’s Private Sector: Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

New Horizons for Egypt’s Private Sector: Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

The Islamic Corporation for the Development of the Private Sector (ICD) (https://ICD-ps.org) has signed a new program worth $120 million for the year 2023 to propel private sector-led development in Egypt; The program includes expanding credit lines for financial institutions operating in Egypt, worth a total amount of $80 million to support private sector companies, particularly small and medium enterprises; The ICD will also provide financing for private sector companies and infrastructure projects, worth a total value of $40 million.

In a major step towards driving economic growth in Egypt's private sector, the Islamic Corporation for the Development of the Private Sector (ICD) has signed a new program worth $120 million for the year 2023. The signing ceremony was graced by high-ranking government officials, including H.E. Dr. Hala Al-Said, Minister of Planning and Economic Development and governor of Egypt at the Islamic Development Bank, H.E. Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, and H.E. Dr. Rania Al-Mashat, Minister of International Cooperation.

The program, which aims to propel private sector-led development, includes expanding credit lines for financial institutions operating in Egypt, worth a total amount of $80 million to support private sector companies, particularly small and medium enterprises. The ICD