CAIRO - 28 November 2021: Executive Vice President of the African Export-Import Bank (Afreximbank) for Business Development and Corporate Banking Amr Kamel said that value of the banks's loan portfolio for Egypt had amounted to $4.8 billion by the end of October.
This amount constitutes 23 percent of the bank's total loan portfolio, Kamel told MENA on Saturday.
He added that out of the $2.7 billion worth of direct financing the bank has approved for Egyptian companies this year, $1.6 billion has been disbursed, while the rest is expected to be disbursed within the next few days.
In addition to these direct funds, the bank has also offered indirect funding to Egyptian companies to embark on many projects in African nations, taking total funds to $5-6 billion during 2021, Kamel said.
He further noted Egypt had signed $4.8 billion worth of agreements during the first four days of the Intra-African Trade Fair (IATF), hosted by South Africa from November 15 to 21.