Cabinet approves Egypt’s FEDA membership

The Egyptian Cabinet approved on Thursday a draft presidential decree regarding the country’s membership of the Fund for Export Development in Africa (FEDA), affiliated to the African Export-Import Bank (Afreximbank).

The Fund was established to implement two basic axes of the bank’s current strategy, namely: developing exports and industrialisation, and enhancing intra-continental trade.

It aims to increase foreign direct investment inflows to the continent, which contributes to enhancing investment within the region, and provide the financing required for investment in corporate capital and industrial infrastructure.