DEBT WATCH- EBRD extends another USD 100 mn for trade finance through Banque Misr: The European Bank for Reconstruction and Development (EBRD) has approved another USD 100 mn facility to increase an existing trade finance limit to state-owned Banque Misr to help meet increased demand for import and export transactions, a bank statement said on Wednesday. This brings the total provided by the EBRD to Banque Misr this week to USD 200 mn following the agreement of another USD 100 mn facility for on-lending to SMEs impacted by covid-19. The agreement announced yesterday comes under the bank’s Trade Facilitation Programme, which aims to boost foreign trade between EBRD countries by underwriting international trade transactions made by banks. The EBRD has recently issued equivalent loans to CIB and the National Bank of Kuwait Egypt to shore up liquidity in the private sector, as well as USD 200 mn to the National Bank of Egypt for SME on-lending and trade finance.

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