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FINANCIAL NEWS
Turkey agrees to lend Egypt USD1b
01 Oct 2012
(MENAFN) Turkey agreed to lend Egypt USD1 billion, half of the aid package Ankara promised Cairo earlier this month, Egypt’s state news agency (MENA) cited Egypt Finance Minister as saying.
The deal was signed during the visit of Egyptian President Mohamed Mursi to Turkey, in which he met with Turkish Prime Minister Recep Tayyip Erdogan.
Cash-strapped Egypt was struggling following the popular revolution that made investors and tourists, the two main sources of hard currency, flee the country. Egypt has been seeking to win back investor confidence in its economy.
Donations and loans from the International Monetary Fund, Gulf states and other countries have played a role in raising confidence.
More News
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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