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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Egypt's largest bank borrowed $ 300 million from the "African Import and Export"

    Rocky
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    Egypt's largest bank borrowed $ 300 million from the "African Import and Export" Empty Egypt's largest bank borrowed $ 300 million from the "African Import and Export"

    Post by Rocky Sun 30 Apr 2017, 9:37 am

    Egypt's largest bank borrowed $ 300 million from the "African Import and Export"


    announced the African Bank for Import and Export, Sunday, it provided funding worth a value of $ 300 million for the National Bank of Egypt ( the largest state - owned bank); to support the industrialization efforts in Egypt.
    Benedict said tumors, President of the African Bank, in a statement, " The funding will support Egypt 's initiative to support small and medium - sized companies," adding that " the loan in hard currency and will allow beneficiaries to obtain basic investment goods from the international market to improve their competitiveness."
    He pointed out that " the African Bank since its inception in 1993, approved the granting of credit facilities worth $ 13.8 billion Egyptian companies, representing 33.7% of the total facilities approved by the Bank."
    During the same period, the bank confirmed and issued guarantees and letters of credit in excess of two billion dollars on behalf of the Egyptian companies.
    Benedict added that the African Bank for import and export has a portfolio of credit to Egypt worth about $ 4.2 billion.
    For his part , Hisham Okasha , head of the Egyptian National Bank said that funding would have a very significant positive impact on the Egyptian economy through its support for the small and medium - sized companies.
    He added Okasha in the statement issued today that " the National Bank of Egypt has a very long experience in the disbursement of funds for small and medium - sized businesses and will ensure that the use of funds used properly , " he said , adding that " the bank is looking forward to further cooperation with the African Bank for Import and Export."
    The African Bank for import and export the most important multilateral African financial institution dedicated to finance and promote trade within Africa and beyond.
    The Bank was established in October 1993 by African governments and African investors and private institutions and non - African investors.
    Since 1994, the Bank approved a grant of more than $ 51 billion in credit facilities for African companies, including about $ 10.3 billion in 2016.



    http://economy-news.net/content.php?id=7369
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