CAIRO: The African Export-Import Bank will present a 500-million-dollar fund to facilitate the movement of trade between Egypt and different African states, Trade and Industry Ministry said in a statement Friday.
“The funding is big opportunity for Egyptian investors who are interested in the African market to increase their exports with African countries,” Trade and Industry Minister Tarek Qabil said in the statement.
According to the protocol, the bank will provide training services to the Egyptian companies “to improve competitive capacity and Egyptian exports via organizing workshops to improve skills of sales and exports and know the opportunities available in the African markets,” said the statement.
The agreement is a part of the ministry’s plan to support and boost economic and trade ties with the African states and to achieve highest rates of economic partnership, the minister said.
The ministry and the bank were in talks for months regarding the funding, said Qabil, adding that the deal aims at providing insurance and guarantees to support Egyptian exports directed to the bank member-states