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Cooperative Insurance Society Egypt (CIS Egypt) is negotiating to offer the country’s third largest state bank, Banque du Caire coverage against credit and non-payment risks.
The coverage will be for the finances Banque du Caire provided for small and medium-sized projects, CIS deputy general manager Moustafa Aboul Azem told Amwal Al Ghad on Monday.
Banque du Caire has allocated around 1.5 billion Egyptian pounds ($79.3 million) to finance small and medium-sized projects throughout the second quarter of the current year.
“We are also in talks with the Egyptian Agricultural Bank to provide credit risks coverage as well.” Aboul Azem added. 
