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Egypt’s second largest bank, state-owned Banque Misr is expecting to receive this month a $200 million financing facility from the African Export-Import Bank (Afreximbank).
The facility will go for supporting Egypt’s small-sized projects and trade operations.
Banque Misr is seeking to secure financing from a number of international financial institutions in addition to $500 million from the European Investment Bank, the bank’s vice chairman Akef El Maghraby told Amwal Al Ghad on Wednesday.
Earlier, Afreximbank signed late April a $300 million financing facility agreement with Egypt’s largest public lender National Bank of Egypt (NBE) to support the country’s SMEs in the industrial and agricultural sectors.
