Afreximbank earmarks $2 billion for Egyptian companies in 2022

The African Export–Import Bank (Afreximbank) has estimated around $2 billion funding for Egyptian companies to help them implement projects in the continent, said a senior official on Monday.

Speaking at Builders of Egypt Forum, Ayman al-Zoghbi, Senior Manager, Intra-African Trade Initiative at Afreximbank, further said that economic development can be achieved through integration and right handling of risks.

Afreximbank provides innovative financing solutions by offering optimal favourable high-risk funding terms to upcoming African infrastructure projects, he added.

The bank is also is working on a twinning programme to address a range of funding gaps, availability of information, and risk acceptance, al-Zoghbi noted.

The Afreximbank official also said that the bank is also providing the data and twinning programs in cooperation with various countries so as to secure financing that will help create projects that will raise growth rates.