EXCLUSIVE- Afreximbank to provide USD 1 bn of trade financing loans to Egypt in 2H2020: The African Export Import Bank is planning to provide USD 1 bn of financing in 2H2019 to boost intra-African trade and support Egyptian companies to invest in Africa, a bank official told Enterprise on the sidelines of its annual meeting in Moscow. The financing will be provided in cooperation with Egyptian companies and banks.

The latest loans will see Afreximbank providing a total of USD 2 bn to Egypt this year, lower than the USD 3 bn the bank provided in 2018. The bank is looking to reduce its financial commitments to the country this year as the economy continues to rebound, the official said.

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