Cairo – Mubasher: The Central Bank of Egypt (CBE) has reached the term of a $2 billion financing agreement with a consortium of international banks, maturing for one year.
“This financing transaction was provided by the banks against the entire amount of newly issued Arab Republic of Egypt dollar-denominated sovereign bonds with maturities of Dec 2017, Nov 2024, and Nov 2028, held by the CBE, which are listed on the Irish Stock Exchange and whose issuance complies with international standards”, the CBE said in a statement on Thursday.
This transaction is expected to back the bank’s liquidity and international reserves, the CBE added.
