The African Export-Import Bank will avail funds worth of US$500 million designed to facilitate trade between Egypt and other member states of the 37-country bank, Egypt’s Ministry of Trade and Industry said Tuesday.
Minister Mounir Fakhry Abdel Nour said the finances declared by the bank represent a big opportunity for Egyptian exporters and investors who are eager to increase trade and investment with African countries.
Abdel Nour, during a business forum held with Afreximbank representatives on Tuesday, said his ministry is anxious to boost economic and commercial ties with African states over the coming period.
Afreximbank deputy CEO, Benedict Orama, said the bank’s program seeks to secure credit lines for Egyptian exporters and manufacturers for added value commodities, as well as providing commercial finance solutions and risk guarantees for Egyptian exporting and importing companies.
