OFID to increase Egypt financing by USD 55 mn by year-end: The OPEC Fund for International Development (OFID) is planning to increase its financing for Egypt by USD 55 mn until the end of the year, private sector operations officer Saud Al Rajhi told the press. This will bring proceeds provided to Egypt by the fund up to USD 220 mn throughout the year. The fund has already doled out a total of USD 165 mn in 1H2019 — including USD 95 mn to SMEs, USD 30 mn to finance food commodity imports, and USD 40 mn to finance petroleum imports.

Tags: