Egypt’s Export Development Bank to sign Afreximbank $500 mln deal in days

Chairperson of Egypt’s Export Development Bank (EDBE) expects her bank will sign a $500 million financing facility deal with the African Export-Import Bank (Afreximbank) in a few days.

The Egyptian bank awaits the central bank’s approval on the Afreximbank’s facility so as to sign the agreement, EDBE chairperson Mervat Sultan told Amwal Al Ghad on the sidelines of a conference in Cairo on Monday.

“The bank (EDBE) is also set to sign a $10 million financing agreement with the SANAD Fund for MSMEs designed to finance small projects and the bank’s operating capital,” Sultan said.