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Abu Dhabi grants Egypt loan from Fund
Egypt, Economics, 2/13/1998
The fund of the Arab trade finance program in Abu Dhabi has given Egypt a loan of US $20 million to finance business operations with other Arab states.
The fund, established by the Arab Ministry Fund in 1991, said 58% of the loan will be allotted to finance Egyptian trade operations, adding that it was offered through to an accord signed by the Egyptian al-Ahli bank in the name of the Egyptian government.
However, the Arab Monetary Fund owns half the capital of the program, estimated at a total value of US $500 million. The other US $250 million is owned by other Arab banks and financial institutions.
Previous Stories:
Egyptian Commercial Bureau in Baghdad looks for Iraqi ministries' needs
(2/11/1998)
Joint bank established between Egypt and Argentina to finance exports
(2/9/1998)
International Bank allocates $300 million loan to Egypt
(8/30/1997)
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