Egypt’s Export Development Bank to sign Afreximbank $500 mln deal next Friday
Egypt’s Export Development Bank (EDBE) is expected to sign a $500 million deal with the African Export-Import Bank (Afreximbank) and Export Credit Guarantee Company Egypt on the 8th of December 2017.
The new deal aims to expand export and commercial mechanisms for Egyptian exporters to African countries.
The agreement encompassed a pack of financing and non-financing programs. The financing programs include the importers credit Program to serve the Egyptian manufacturer and commodities exporters as AFREXIMBANK will finance African importer, the exporters Credit Program supports Egyptian exporters to present credit to foreign importer (Import facilities) for period from 6 months to 7 years, Financing before and after freight program and discount, Purchase, financing and syndicated refinancing for documents.
On the other hand, non-financing programs compromises Great Contracts Guarantee Program for primary guarantee letters, first and last payment for Egyptian bidders for the great tenders.
In addition to Investment Guarantee Program in African states to protect Egyptian Investor in African states ( Politics risks – Currency exchange risks – transactions risks- nationalization risks and African governments commitment regarding PPP/ BOT/ IPP contracts.
