The Central Bank of Egypt (CBE) received at the end of June a USD400mn loan from African Export-Import Bank (Afreximbank) to finance SMEs. According to Amr Kamel, Afreximbank’s Vice President, the loan has a period of 12 months. The amount was transferred to CBE’s accounts after it repaid to Afreximbank the USD500mn tranche of the loan it had received in 2016. Egypt has previously received USD3.7bn in liquidity facilities from the bank and has now paid them in full.
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