Arranging $65 Million as a Soft Loan in Egypt's FavorSource: www.export-egypt.com 6/18/2012, Location: Africa |
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AMF - Arab Monetary Funding has expressed intentions to arrange a $ 65 million soft loan in Egypt's favor to support and finance Egypt's foreign trade with Arab countries. That was announced by the Fund operating under participation of 22 Arab countries. Media reports, quoting the above, indicated that deficit of Egypt's balance of payment during the first 9 months of FY 2011 / 2012 increased by more than 200 % to reach $ 11 billion while balance of trade deficit during the same period reached $ 23.5 billion.
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