IFC approves $100 million loan for Egypt’s AAIB bank

The International Finance Corporation (IFC), a member of the World Bank Group, approves to provide Egypt’s Arab African International Bank (AAIB) with $100 million loan aimed at boosting dollar liquidity.

IFC is set to sign the loan agreement with AAIB within this week, sources with knowledge of the matter further told Amwal Al Ghad on Sunday.

“The bank (AAIB) is negotiating with other international financial institutions, including the European Bank for Reconstruction and Development (EBRD), to receive loans with similar values.” the sources said.