Cairo – Mubasher: The Central Bank of Egypt (CBE) has paid off $500 million for the African Export-Import Bank (Afreximbank) last Thursday, 31 May, vice-president of the CBE said.
Accordingly, the North African nation's central bank has settled the Afreximbank’s total dues of $3.7 billion, Amr Kamel told local newspaper Al Shorouk.
In February 2016, the CBE had signed an agreement with the Afreximbank to obtain $500 million facilities to boost Egyptian importers.
The CBE had also obtained a sum of $3.2 billion for a year within the framework of the Afreximbank programme to finance the central banks in Africa.
The Afreximbank plans to pump around $1 billion financing in Egypt this year.
