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

Monday 22-08-2016 08:02 PM

Central Bank of Egypt (CBE) - Archive

By Reuters

CAIRO, Aug 22 (Reuters) - 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.

(Reporting by Ali Abdelaty; Writing by Eric Knecht; Editing by Andrew Roche)

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