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EBE plans to offer credit facilities to Egyptian exporters in coming phase.

Exports ship - Pixabay CAIRO - 21 June 2018: The Export Development Bank of Egypt (EBE) plans to offer credit facilities worth LE 1 billion to Egyptian exporters during the coming phase, its president Mervat Sultan has revealed. This comes as part of a protocol signed between the EBE and the Export Development Fund (EDF) to provide funding for the exporters, she said. The EBE had presented over LE 100 million credit facilitation to a number of exporters, she added on the sidelines of signing ten protocols with export councils and the Egyptian Businessmen's Association on Wednesday night. The bank is keen on supporting the export sector for the sake of increasing the volume of Egyptian exports, she stressed. She called for coordinating efforts among the EBE, the Export Development Authority and the exports councils to work on boosting Egyptian exports. The EBE is expected to offer funds amounting to LE 12.6 billion to the industrial sector during the current fiscal year, she noted. The bank aims to expand the client base, which now stands at 450, she said. The bank has 31 branches across the nation and targets establishing around 37 to 39 ones by the end of 2018, she also said.

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Publication:Egypt Today
Date:Jun 21, 2018
Words:216
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