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Sunday, 30 April 2017

Afreximbank to provide NBE with USD 300 mn facility to fund SMEs

The African Export-Import Bank (Afreximbank) signed an agreement to provide aUSD 300 mn financing facility to the National Bank of Egypt (NBE) to support SMEs on Thursday, the bank said in a statement. The loan will be used as part of the SME initiative launched in 2016 to provide bns in funding for SMEs, said Afreximbank president Benedict Oramah. Being a hard currency facility, the facility would make it possible for beneficiaries to access essential investment goods from the international market to improve their competitiveness, he said.

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