The African Export and Import Bank (Afreximbank) financing to Egypt during the first half of 2018 to support Egyptian exports to African countries has reached $1.7 billion, Egypt’s Ahram Online reported Saturday (July 14th).
These funds are being provided through bank loans worth $1 billion and companies worth $700 million, said Afreximbank deputy head Amr Kamel.
Afreximbank also plans to inject additional funds into Egypt by the end of the year, amounting to $600 million during the second half of this year, he said, noting that the total funding received by Egypt in 2018 will be $2.3 billion.
Kamel revealed a new study by the bank to launch an investment fund between Egypt, Sudan and Ethiopia, to boost bilateral investments and boost trade relations and finance development projects among the three countries.
Afreximbank is seeking to launch new initiatives and mechanisms to promote trade, he said, including a new electronic platform to provide information on corporate governance and various institutions operating in Africa.
The Mansa platform, a pan-African customer due diligence platform that will facilitate African trade, will combat money laundering and terrorism, he said.
