EBE mulls funding 4 exporters as part of Afreximbank agreement

Export Development Bank of Egypt (EBE) is studying the possibility of funding four exporters as part of The African Export-Import Bank (Afreximbank) agreement, Mervat Soltan, Chairperson of EBE said

The African Export-Import Bank (Afreximbank) entered into an agreement with the Export Development Bank of Egypt (EBE) to collaborate on a $500 million scheme aimed at supporting exports and investments by Egyptian businesses to other African countries.

By the terms of the agreement, beneficiaries of the ECSS must be exporters domiciled in Egypt and the products must be of Egyptian origin while the importers must be African and located in one of Afreximbank’s member countries.

She told Amwal Al Ghad that the bank has got $10 million from  Germany’s SANAD Fund to finance small and medium enterprises.

she further noted that bank is considering a number of  mutual funding during the current period in many sectors, especially the oil and gas sector.

She added that the bank will pay great attention to industrial, agricultural and service activities during the next phase, adding that the interest in these sectors supports the economic development of the country and helps the local product support.