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Afreximbank supports Egyptian banks with $3.9bn amid COVID-19 crisis

Afreximbank supports Egyptian banks with $3.9bn amid COVID-19 crisis
Afreximbank also paid a $250,000 grant to support the Egyptian government

Cairo – Mubasher: The African Export-Import Bank (Afreximbank) has paid $3.55 billion to the Central Bank of Egypt (CBE) and other Egyptian Banks under its pandemic trade impact mitigation facility (PATIMFA) since the coronavirus (COVID-19) crisis in March.

In addition, the African multilateral trade finance institution also provided the National Bank of Egypt (NBE) with $300 million in an attempt to expand intra-African trade, according to a recent statement.

Moreover, Afreximbank also disbursed a $250,000 grant to support the Egyptian government in its efforts against COVID-19.