Afreximbank disburses $200ml to Egyptian General Petroleum Corporation

Elizabeth Christopher, Abuja

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Denys Denya, Executive Vice President, Afreximbank

The African Export-Import Bank (Afreximbank) has disbursed the sum of $200 million to the Egyptian General Petroleum Corporation (EGPC) to support EGPC’s investment in the Middle East Oil Refinery Company (MIDOR).

According to the Executive Vice President of Afreximbank, Denys Denya, this was part of its effort to promote intra-African trade, industrialization and export development in Africa

He added that it would also support EGPC’s company expansion plan to become a regional hub for exporting oil products to the Middle East region and the rest of Africa.

Mr Denya, signed the facility agreement on behalf of Afreximbank while Ayman Hegazy,Deputy Chairman of EGPC, signed for his corporation.

 

Peace PIAK