Afreximbank earmarks $2 billion for Egypt

By Sanaa Allam On Sep 12, 2018

Benedict Oramah, President of the African Export-Import Bank (Afreximbank)

The African Export-Import Bank (Afreximbank) has earmarked $2 billion for Egypt, its president Benedict Oramah said on Wednesday.

During his meeting with Egyptian Trade Minister Amr Nassar, Oramah said the new financial package includes $500 million for small and medium-sized businesses in Egypt and will be made available this year.

Egypt secured last year $1.5 billion from Afreximbank, representing 15 percent of the bank’s financing portfolio, including $500 million within the framework of the Egypt-Africa Trade Promotion Programme introduced by the bank in 2015, Oramah said.