EDB says still in talks with Afreximbank over joint cooperation framework, no credit facility agreement signed

The Export Development Bank (EDB) is in talks with the African Export-Import Bank (Afreximbank) to establish a joint cooperation framework that would support Egyptian exporters looking to break into African markets, a bourse disclosure says (pdf). The release followed statements from EDB Chairman Mervat Sultan saying the bank was pending central bank approval on a USD 500 mn credit facility agreement with Afreximbank. EDB confirmed that no agreements have been signed as negotiations are still in process.