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AfDB grants $148M financial package to CIB to boost SMEs and Trade in Egypt

The AfDB outlined that this package consists of a $10 million line of credit with a 10-year tenor, a $90 million subordinated loan with a 10-year tenor, a $32 million trade finance line of credit with a 3.5-year tenor, and a $16 million trade finance line of credit from the Africa Growing Together Fund (AGTF) with a 3.5-year tenor.

Egypt’s manufacturing & extractive industries index decreases 3.86% in September

The manufacturing and extractive industries hit 100.86 in September 2023, a slight decrease from 104.91 which was recorded in August 2023

Egypt’s exports to Hungary increase 20.4% in first 8 months of 2023 | CAPMAS

CAPMAS data also showed a 16.6% increase in the volume of trade exchange between Egypt and Hungary, where it reached $229.8 million

Ports release $63B worth of imported goods since start of 2023 | Customs head

Earlier this fall, the Ministry of Finance revealed that imported goods and products valued at $131 billion were released by the customs authority over the course of 21 months until the end of June 2023

Egypt and Oman are in talks to establish an investment fund

The fund will be across agricultural industries, food manufacturing, and the field of pharmaceuticals.