Egypt, Saudi-based Islamic bank sign 1.6-bln-USD finance deals

CAIRO, Feb. 4 (Xinhua) -- Egypt signed two deals worth 1.6 billion U.S. dollars with the Jeddah-based Islamic Development Bank Group (IsDB) to finance trade and support private sector growth in the country, the Egyptian Ministry of International Cooperation said Tuesday.

One deal is a 1.5-billion-dollar program by the International Islamic Trade Finance Corporation, an IsDB member, to finance petroleum and supply commodities in Egypt, the ministry said in a statement.