Egypt seeks ITFC support to expand export financing and fintech startups

Egypt is seeking support from the International Islamic Trade Finance Corporation (ITFC) to expand export financing and fund startups developing technology to help businesses reach overseas markets.

Minister of Investment and Foreign Trade Mohamed Farid discussed the proposals with ITFC CEO Adeeb Yousuf Al-Aama during a meeting that also included discussions on strengthening ties with international financial institutions and developing investment zones across the country.

Farid proposed channelling international funding through the Sovereign Fund of Egypt to factoring companies, which provide businesses with cash against unpaid invoices. He said the arrangement could expand the number of exporters and strengthen foreign currency inflows.

He also sought ITFC support to establish and operate a regulatory sandbox for financial and trade technology. Known as the Fintech Sandbox, the platform would help startups develop tools using data and artificial intelligence to improve exporters’ access to international markets.

The proposals also addressed access to finance. Farid stressed the importance of creating an environment where Sandbox participants would have access to the necessary financing to build on their ideas.

Meanwhile, Al-Aama said ITFC was developing tailored financing programs to help Egyptian exporters improve their operations and enter new markets. Further cooperation could be in the pipeline through the Egypt Country Program 2026–2027, held under the Arab Africa Trade Bridges initiative.

Beyond export support, Farid outlined plans to develop between 15 and 20 investment zones across Egypt, each covering 20 to 80 feddans — the name of a traditional plot of land in Egypt. These would accommodate industrial, logistics, manufacturing and service businesses through leases and long-term land-use rights.

Several plots have already been allocated, he said. The government is seeking public-private partnerships to share financing and accelerate infrastructure development.

Locating smaller zones near residential communities could create jobs, particularly for women, he said. Women account for 60% to 70% of workers in some existing zones.

Farid also said the government wants to attract more young entrepreneurs to export. Potential incentives for successful companies include participation in trade missions and international exhibitions, discounts on services from the General Authority for Investment and Free Zones, and access to business data.

Both sides highlighted training for young professionals. Farid also called for investment promotion officials to deepen their knowledge of industries and supply chains across the 16 priority sectors identified in Egypt’s foreign direct investment strategy, prepared with the World Bank.