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Tuesday, 26 February 2019

Korea Eximbank to finance SMEs in Egypt

The Export-Import Bank of Korea (Korea Eximbank) will provide financing to Egyptian SMEs as part of the USD 3 bn package pledged during President Abdel Fattah El Sisi’s 2016 visit to Seoul, according to an Investment Ministry statement (pdf). News came as Investment Minister Sahar Nasr, Finance Minister Mohamed Maait and Suez Canal Authority (SCA) chairman Mohab Mamish discussed economic and investment reform with Korea Eximbank President Sung-soo Eun. Mamish also brought up cooperation in light and medium-scale industries, as well as auto components manufacturing and shipbuilding in the Suez Canal Economic Zone.

Separately, the ministers discussed investing in domestic automotive manufacturing during a visit to Hyundai’s headquarters,the statement adds.

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