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Arab Monetary Fund arranges $65 million credit facility for Egypt

The Arab Monetary Fund (AMF) said that it was arranging a $65 million credit facility for Egypt to help the country trade with other Arab states.

The credit line will be extended through a trade financing programme run by the AMF, central banks and other financial institutions in the region, said the AMF, a multilateral lending body with 22 member countries, according to a report of Reuters.


Farouk El-Okdah, Egypt's central bank governor, said at a meeting of AMF and regional central bank officials in Abu Dhabi on Sunday that the capital and revenues of Egyptian commercial banks were strong. "We are in a better position now," he said.

Source: BNA

22.7.2012
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    1
    German-Arab Chamber of Industry and Commerce
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    2
    British Egyptian Business Association
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    3
    French Chamber of Commerce in Egypt
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    Delegation of the European Union to Egypt
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    Italian Chamber of Commerce in Egypt
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