In an official statement released on Wednesday, the African Export-Import Bank (Afreximbank) announced its provision of a $44 million aircraft financing facility to Egypt-based CIAF Leasing.
The funding will enable CIAF Leasing to acquire three new aircraft, reinforcing their operations and expanding their aircraft fleet. The move highlights Afreximbank’s commitment to supporting the aviation sector in Egypt and facilitating growth in the region.
In line with the terms of the facility, the loan has been applied towards CIAF’s acquisition of the aircraft which are being leased to Egypt’s national carrier, EgyptAir, and sub-leased to Air Cairo.
The facility provides Afreximbank an opportunity to support the efforts of the company and to help further its growth as an African lessor, Helen Brume, project, and asset-based finance in Afreximbank, noted.
