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Banque Misr to borrow $550 million from international creditors

BUSINESS
By Reuters | November 11th 2018
 Banque Misr in Cairo, Egypt. [Photo: Courtesy]

CAIRO- Banque Misr is seeking to borrow $550 million from foreign lenders before the year’s end to improve dollar liquidity, the vice chairman of Egypt’s second largest bank said on Sunday.

Citi Bank and Emirates NBD will be arranging the loan, Akef ElMaghraby told Reuters.

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