ICEC

Egypt’s Banque Misr to borrow $550 mln before year-end

Egypt’s second-largest state-owned bank, Banque Misr is planning to borrow $550 million from foreign lenders before the year’s end to improve dollar liquidity, said its vice chairman on Sunday.

Citi Bank and Emirates NBD will be arranging the loan, Akef El Maghraby told Reuters.

Source: Reuters

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