The African Export-Import Bank (Afreximbank) has agreed to extend USD 3 bn of credit facilities to Egyptian companies to help support their infrastructure projects across Africa, Al Masdar reported yesterday. The African multilateral lender signed the agreements at this week’s Intra-African Trade Fair in Cairo:

  • Hassan Allam Holding will take out a USD 200 mn credit facility to help funds in at least six African countries;
  • Elsewedy Electric signed an agreement for a USD 300 mn facility;
  • Arab Contractors will receive a USD 200 mn facility;

The recipients of the remaining USD 2.3 bn have not been publicly disclosed.

ALSO- An e-platform for engineering contracts: The bank partnered with the International Cooperation Ministry to launch a digital platform for engineering, procurement and construction contracts, as part of the government’s plan to boost infrastructure investments, the ministry said in a statement.

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