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Egypt to bankroll its world trade

The Egyptian government is inaugurating its own worldwide regulatory financing for two-way trade under a newly established Egyptian International Bank (EIB). Half the initial capitalization of $200 million (US) is being provided by Egypt's Central Bank, with the balance coming from the country's four domestic banks.

Egypt has become increasingly active in world trade, with transactions estimated to reach $20 bil lion (US) this year.

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