Egypt’s Banque Misr receives loan from African Development Bank, China

The loan could help Egyptian startups and comes amid Egypt’s ongoing economic crisis.
Akinwumi Adesina, president of the African Development Bank, speaks.
Akinwumi Adesina, president of the African Development Bank, speaks at an African pavilion at the UNFCCC COP27 climate conference on Nov. 12, 2022, in Sharm El Sheikh, Egypt. - Sean Gallup/Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The African Development Bank approved a new loan to Egypt last week. 

The Ivory Coast-based financial institution loaned the Egyptian state-owned Banque Misr a $130 million line of credit. There is an additional $30 million from the Africa Growing Together Fund, according to a Nov. 10 press release.

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