CAIRO, June 29 (Reuters) - The European Bank for Reconstruction and Development (EBRD) said on Monday it would increase its trading facility limit to Egypt's largest private sector bank, Commercial International Bank
COMI.CA
(CIB), to $100 million from $50 million.
EBRD said in a statement it was increasing the limit to promote import and export activities.
"Through the programme, the Bank provides guarantees to international ... banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations."
EBRD said CIB had become a very active user of the trade facility programme since joining in December 2014.
It said the trading facility limit was increased in response to growing market demand to promote cross-border trade in Egypt.
(Writing by Yara Bayoumy. Editing by Jane Merriman) ((yara.bayoumy@thomsonreuters.com; tel: +202 2578 3290; Reuters Messaging: yara.bayoumy.thomsonreuters.com@reuters.net))
EBRD said in a statement it was increasing the limit to promote import and export activities.
"Through the programme, the Bank provides guarantees to international ... banks, taking the political and commercial payment risk of international trade transactions undertaken by banks in the countries of operations."
EBRD said CIB had become a very active user of the trade facility programme since joining in December 2014.
It said the trading facility limit was increased in response to growing market demand to promote cross-border trade in Egypt.
(Writing by Yara Bayoumy. Editing by Jane Merriman) ((yara.bayoumy@thomsonreuters.com; tel: +202 2578 3290; Reuters Messaging: yara.bayoumy.thomsonreuters.com@reuters.net))
