The Arab Bank for Economic Development in Africa (BADEA) will provide Egypt with a USD 50 mn renewable credit line, the Investment and International Cooperation Ministry announced. The funding aims to support Egyptian investors looking to expand sales to African markets and will support producers who export products that are made up of at least 30% Arab-country sourced raw materials sold in Africa. BADEA’s funding targets essential goods producers including medications, fertilizers, electrical appliances, and manufactured petroleum products.

Seven agreements were signed with Armenia by investment Minister Sahar Nasr during the Egyptian-Armenian Joint Committee meeting in Yerevan, according to an statement by The Ministry. The agreements revolved around promoting investments in both countries as well as academic and cross cultural exchanges.

Libyan authorities have arrested a Daesh militant believed to involved in the
beheadings of 21 Egyptian Coptic Christians in 2015, The Associated Press reports. The Libyan prosecutor Al Sadiq Al Sour says “the beheadings took place behind a seaside hotel in the coastal city of Sirte. He says authorities have also identified the site where the bodies were buried.” In a development that could further impact the relations between Egypt and Sudan, Al Sour says Daesh militants “have been using Sudan, the country’s southern neighbor, to get into Libya.” This comes as the Armed Forces destroyed a 10-car convoy running guns and contraband from the Libyan side into Egypt, according to a statement from The Armed Forces.

Egypt is committed to the investigation of Italian PHD student Giulio Regeni’s murder, Foreign Minister Sameh Shoukry told Rome’s ambassador to Cairo Giampaolo Cantini, according to a ministry statement.