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ITFC enters USD-agreements for Egyptian women, Palestinian crafts

ITFC enters USD-agreements for Egyptian women, Palestinian crafts
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Riyadh – Mubasher: The International Islamic Trade Finance Corporation (ITFC), on behalf of the Aid for Trade Initiative for Arab States (AfTIAS 2.0) Program, penned two agreements at a total value of $725,000 to endorse Egyptian women and Palestine’s craft sector, according to a press release.

Signed during the fourth meeting of the Technical Coordination Committee AfTIAS 2.0, the first partnership agreement aims to support Egyptian women in international trade in the agro-food industries and handicrafts sectors, while the second agreement promotes the traditional Palestinian craft industries.

The International Trade Center (ITC), the implementing agency for the second phase of the Women in International Trade project She Trades Egypt, inked a $500,000 deal with ITFC to focus on supporting the export skills of 100 female-led enterprises in Egypt’s handicrafts and agricultural food segments.

ITFC penned another agreement worth $225,000 with the Federation of Palestinian Chambers of Commerce, Industry, and Agriculture to implement a project highlighting the traditional handicraft sector in Palestine.

The Palestine project aims to preserve and rehabilitate traditional industries, restore their production capacity by up to 40%, and boost sales by up to 30%. This is besides supporting competitiveness in the domestic market and exporting to foreign markets.

It is worth mentioning that the committee members reviewed the projects presented for approval, while the Chairman of AfTIAS 2.0, Hani Salem Sonbol, stated that the total funds allocated by the programme since its launch in October 2021 are estimated at $4.70 million in grants for 17 approved projects.