Banque Misr signs $200 million SME financing deal with Afreximbank

Egypt’s second largest bank, state-owned Banque Misr says it has signed a $200 million financing facility agreement with the African Export-Import Bank (Afreximbank).

The financing will go for supporting Egypt’s small and medium-sized projects as well as trade operations, Banque Misr’s vice chairman Akef El Maghraby told Amwal Al Ghad on Wednesday.

Banque Misr is seeking to secure other financing from a number of international financial institutions, including $500 million from the European Investment Bank, El Maghraby added.