The Arab Monetary Fund (AMF) said on Sunday it was arranging a $65 million credit facility for Egypt to help the country trade with other Arab states. The credit line will be extended through a trade financing programme run by the AMF, central banks and other financial institutions in the region, said the AMF, a multilateral lending body with 22 member countries, according to a report of Reuters. Farouk El-Okdah, Egypt's central bank governor, said at a meeting of AMF and regional central bank officials in Abu Dhabi on Sunday that the capital and revenues of Egyptian commercial banks were strong. "We are in a better position now," he said.
