Egypts NBE secures $200mln loan from AFREXIMBANK

Cairo – Mubasher: The National Bank of Egypt (NBE) has obtained a $200 million loan from the African Export–Import Bank (AFREXIMBANK) to fund the small and medium enterprises (SMEs).

The three-year facility from AFREXIMBANK will be invested in Egypt’s local market SMEs, Al Shorouk newspaper reported, citing a banking source as saying.

During the fiscal year 2016/2017, NBE obtained more than $1 billion from international financing institutions.