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FEB refutes rumors of Egyptian banks funding GERD - Daily News Egypt

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FEB refutes rumors of Egyptian banks funding GERD

Mohamed El-Etreby, FEB Chairperson stressed that there are no Egyptian banks, or banks operating in Egypt that purchased Ethiopian government bonds

Federation of Egyptian Banks (FEB) dismissed Tuesday all circulating news on social media regarding the funding of the Grand Ethiopian Renaissance Dam (GERD) by banks operating in Egypt.

Mohamed El-Etreby, Chairperson of the FEB and Chairperson of Banque Misr refuted such claims, stressing that there is no Egyptian banks, or any bank operating in Egypt purchased the bonds issued by the Ethiopian government to fund GERD.

He added that those allegations circulated in 2017, and were dismissed by the Governor of the Central Bank of Egypt (CBE) Tarek Amer at the time.


Topics: FEB

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