Back to the complete issue
Thursday, 7 December 2017

CBE repays another USD 600 mn to Afreximbank

The CBE repaid USD 600 mn to the African Export-Import Bank on Wednesday as part of a USD 3.2 bn facility, state news agency MENA reported, according to Al Masry Al Youm. This comes two days after the CBE repaid USD 2 bn to Afreximbank, bringing the total amount repaid to USD 2.6 bn. Egypt plans to make the final USD 600 mn payment next Monday, CBE Governor Tarek Amer told MENA. The central bank will also repay a USD 500 mn Afrexim trade facility agreement in April or May 2018, Afreximbank’s Executive Vice President Amr Kamel told reporters on Tuesday, Al Shorouk reports. Afreximbank had agreed to grant the facility in February 2016 to help Egyptian importers through the FX liquidity crisis.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.