The African Export–Import Bank (Afreximbank) signed a credit facility agreement worth USD200mn with the Egyptian General Petroleum Corporation (EGPC) on Thursday to support the expansion of electricity generation and distribution in the country. Head of the bank, Benedict Okey Oramah, said the facility will secure the required fuel to support Egypt’s industrial sector through financing fuel imports. He added that the facility is part of the bank’s strategy to support key sectors that could support the industrialisation of Africa. (The Daily News Egypt)
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