Banque Misr, Afreximbank sign $200M loan for SMEs

CAIRO – 28 June 2017: Banque Misr’s chairman Mohamed el-Etreby signed Wednesday $200 million loan with the African Export and Import Bank (Afreximbank), the bank said in a statement.

The loan is for financing small and medium-size projects (SMEs).
To be disbursed in July, the loan period will be three years.

Earlier this week, Minister of Investment and International Cooperation Sahar Nasr met with Afreximbank President Bendict Okey Oramah to discuss the loan terms.

Egypt's cooperation portfolio at Afreximbank amounts to more than $4 billion, representing around 40 percent of the African bank's total portfolio.