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Export Development Bank increases capital to EGP 5.27 bln
7 February 2022  -  Organization :  -  Sector/Entity :  -  Category : Trade News

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The EBE Ordinary General Assembly unanimously agreed to increase the bank’s issued and paid-up capital from EGP 3.274 billion to EGP 5.274 billion.

Cairo- Feb 7, 2022

Minster of Trade and Industry Nevine Gamea has chaired the meeting of the Ordinary General Assembly of the Export Development Bank of Egypt (EBE), in the presence of Chairman Mervat Sultan, Vice Chairman Ahmed Galal, members of the board, shareholders, representatives of the Central Bank of Egypt and a number of ministries, in addition to auditors from the Central Auditing Organization.

The assembly unanimously agreed to increase the bank’s issued and paid-up capital from EGP 3.274 billion to EGP 5.274 billion, and also approved its planning budget for the current year, January-December 2022.

“EBE had an important role in the payout of the export subsidy arrears to exporters, which gave a significant boost to Egyptian exports during 2021,” Gamea said.

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