Arab Contractors Co., Afreximbank sign credit facility agreement worth $200mn

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Sun, 30 Jul 2017 - 12:58 GMT

The arab contractors website

The arab contractors website

CAIRO - 30 July 2017: The Arab Contractors Co. and African Export–Import Bank have signed a credit facility agreement, under which Afreximbank would issue letters of guarantee worth 200 million dollars to the Egyptian public sector company.

Putting their signatures to the deal Sunday were chairman of the Arab Contractors Co. Mohsen Salah and President of Afreximbank Benedict Oramah.

Salah said the agreement sends a positive message about the Egyptian economy in general and the construction sector in particular.

Oramah said he is proud of the partnership between Afreximbank and the Arab Contractors Co., which is among the biggest infrastructure firms operating in Africa.

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