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12-11-19
USD30 mln loan agreements inked between Egypt's AAIB with both EBRD, AFD
(MENAFN) Egypt's Arab African International Bank (AAIB) signed on Tuesday loan agreements totaling USD30 million with the European Bank for Reconstruction and Development (EBRD) and France's state development agency AFD.
The agreements were signed at the AAIB's headquarters in Cairo by Sherif Elwy, AAIB's vice chairman and managing director; Jurgen Rigterink, first vice president and head of client services group at EBRD; and Fabio Grazi, AFD's Country Director for Egypt.
The agreements are part of the EBRD's attempts to support improvements in the energy efficiency of Egyptian private sector businesses, by providing a loan of USD15 million to AAIB.
A further USD15 million is provided by AFD targeted to increase investment in the green economy in Egypt.
MENAFN1211201900450000ID1099260021
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