Korea extends $60 million credit to Egyptian Banks
The state-owned Korean Export Import Bank (EXIM) has recently approved a $60 million credit line, to be extended to three Egyptian Banks, reported Al-Alam Al-Yaum. Each financial institution will reportedly receive $20 million.
The line of credit is geared toward supporting the National Bank of Egypt (NBE), the Commercial International Bank and the Export Development Bank, all engaged in funding private sector initiatives throughout Egypt, in both the services and the production sectors. — (menareport.com)
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