Director of the Trade, Investment & Corporate Finance of the African Export-Import Bank (Afreximbank) Ayman Elzoghby said the bank’s cooperation portfolio with hit $7 billion until June in course.
In statements on the fringe of the bank’s annual meetings, he said Egypt absorbs about 16-17 percent of the bank’s total loan portfolio. He noted that the bank’s portfolio in Egypt rose by $1 billion compared to the previous year.
The bank is mulling allocating $4 billion for Egyptian companies to implement infrastructure and tourism projects in African countries.
Furthermore, Afreximbank is considering the provision of a substantial $4 billion for Egyptian companies. The funds are expected to be used in implementing infrastructure and tourism projects across various African nations. This step is anticipated to spur growth in the targeted sectors and stimulate inter-African collaborations and development.
These actions underscore Afreximbank’s commitment to fostering robust economic relations with Egypt and enhancing the scope of their cooperation in the African continent. This sustained partnership is a testament to Egypt’s substantial role in the bank’s operations and its influence on the continent’s economy.