Egypt receives US$500m to target Africa for exports

The African Export-Import (Afriexim) Bank has agreed to extend a US$500 million credit line to Cairo to assist Egypt in funding its exports to Africa,

Egypt’s minister of trade, Mounir Fakhry Abdel-Nour, made this announcement after the signing of the Tripartite Free Trade Area (TFTA) in the country on Wednesday. 

"Egyptian products don't prioritise African countries in spite of their emergence as fast-growing markets. And this is going to change,” Abdel-Nour was cited by Egyptian state-owned news agency, MENA, as saying.