The African Export-Import Bank (Afreximbank) has provided Egypt-based CIAF Leasing with a $44 million aircraft financing facility to purchase three new aircrafts, according to an official statement on Wednesday. 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.
