AfreximBank helps finance three new jets for Air Cairo: CIAF Leasing has secured a USD 44 mn aircraft financing facility from the African Export-Import Bank (AfreximBank), according to a press release from the lender yesterday. The loan will be used to buy three Embraer E190 aircraft, which will be leased to EgyptAir and sub-leased to Air Cairo. AfreximBank will act as the senior lender, while the Brazilian National Development Bank is providing an export credit funding line, according to the release.

IFC to support local microlenders: The International Finance Corporation (IFC) will provide advice to 10 local microfinance institutions to improve their client protection practices in line with global standards, according to the lender’s website. The project has a budget of USD 650k and is expected to begin on 1 July and end on 30 June 2025.

Correction: 11 June, 2023 

A previous version of this article incorrectly stated that the IFC is lending USD 650k to microlenders in Egypt.

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