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Support for SMEs and stimulation of African trade: the AfDB grants a loan of 148 million dollars to the Commercial International Bank

01/12/2023
Source : ORISHAS FINANCE
Categories: Sectors

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Dans le but d' accorder sa participation afin de soutenir SMEs and stimulating trade in Africa, the African Development Bank has granted 148 million dollars to the Commercial International Bank of Egypt.

Le financement accordé par la Bad should enable the CIB to meet the currency needs of its clients operating in various sectors of the Egyptian economy. He will also help the institution acquire long-term resources to finance businesses, strengthen its equity capital and meet the foreign trade financing needs of its clients. Small and medium-sized enterprises (SMEs) and businesses operating in key sectors of the Egyptian economy are mainly the beneficiaries of funding.

The funding will also contribute to the mobilization of significant resources in favor of key economic sectors in Egypt, thereby strengthening productive capacity and stimulating growth.

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