Middle East Complex (MEC), Jordanian leading producer of electric home appliances, has inked a 40 million U.S. dollars trade financing deal with the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IDB) Group, Al Bawaba, a regional information and technology company said on its website Sunday.

The deal, signed by ITFC CEO Waleed Al Wohaib and MEC CEO Osama Al Khalili during an ITFC delegation visit to Amman, is to bring the total amount of ITFC trade financing deal with MEC to 80 million dollars.

According to Al Khalili, MEC is in the process of establishing a mega project for manufacturing refrigerators, air conditioners and washing machines.

Al Wohaib for his part said the agreement accords with ITFC's aim to support strategically selected operations that will make a significant beneficial impact on economic development of the Organization of the Islamic Conference (OIC) member-states.

Middle East Complex for Engineering, Electronics & Heavy Industries PLC (MEC) is Jordan's largest producer, trader, distributor and exporter of electric home appliances.

The Jeddah-based Islamic Development Bank (IDB) is an international financial institution established to foster the economic development and social progress of its member countries and Muslim communities in non-member countries in accordance with the Islamic law.

The ITFC is an autonomous trade financing entity within IDB Group. The principal objective of ITFC is to supplement the activities of the IDB by providing funds for productive development and promoting trade in member countries.