Ayman Mukhtar, General Director of the Banque du Caire’s Corporate Credit Sector, announced that his bank has agreed this week to open a credit line worth $36m for EGPC to import crude oil.

In statements made to Al-Boursa he said this was the second time the Bank had done this for EGPC, the first being in January for the same sum.

He added that Banque du Caire is also considering participating in two of the projects that were announced at the March economic summit will a final decision to be made at the next board of directors meeting. The bank’s total corporate loans amounted to EGP 12bn  with another $600m given to the Suez Canal Authority.

Source: Al-Boursa