In an effort to promote the import of Egyptian goods to Uganda, Egypt recently offered the African State a six month, $10 million credit line, according to the Monitor. Cairo International Bank will be responsible for managing the new credit line.
Mohsen Mohammed Naseem, the Egyptian Commercial Counselor to Uganda, stated that exchanges between the two countries had increased notably in recent times. As a result, Egyptian authorities had decided to become more involved in bilateral exchanges.
The two countries, linked by the Nile River, see a promising future of cooperation ahead of them. Last year, trade between the two was spurred by joint discussions attended by representatives of the each nation.
A credit line such as the one recently implemented was suggested amongst the various means of financing an increased trade program. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
