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Business / Middle East Business

UAE to provide Egypt central bank with 6-year, $1 bln deposit

Published: 23 Aug 2016 - 12:00 am | Last Updated: 02 Nov 2021 - 05:42 am
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CAIRO: The United Arab Emirates has agreed to provide Egypt's central bank with a $1 billion deposit for a duration of six years, the United Arab Emirates' official state news agency WAM said on Monday.

Egypt this month signed a preliminary deal for a $12 billion IMF lending programme contingent upon the government securing $5-6 billion in bilateral financing for the first year.

Reuters

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