CIB Egypt partners with Chemical and Fertilisers Export Council to boost exports

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Egypt - Commercial International Bank – Egypt (CIB) has signed a cooperation agreement with the Chemical and Fertilisers Export Council (CEC), making CIB the council’s official banking partner.

The agreement aligns with CIB’s commitment to supporting vital sectors and empowering local companies, contributing to enhancing the competitiveness of Egyptian products and driving the growth of the national economy.

The partnership aims to bolster the competitiveness of Egyptian chemical industries and increase their exports in global markets, in line with the state’s plan to achieve $100 billion in exports. The agreement was signed at CIB’s headquarters in Smart Village.

“This partnership reflects CIB’s commitment to supporting Egyptian exporters by offering innovative and comprehensive financial solutions, including short- and medium-term credit facilities, documentary credits, and local letters of guarantee,” said [Name], [Position] at CIB Egypt.

Khaled Abul Makarem, Chairperson of the CEC, emphasised the council’s efforts to enhance the exports of its 12 sectors.“The council is working to enhance the exports of its 12 sectors by opening new markets and increasing market share in existing markets through organising specialised exhibitions, trade missions, and hosting importers,” he said. “This effort aligns with the state’s policies to develop chemical industry exports in collaboration with relevant authorities.”

Hany El-Dieb, Head of SMEs Business and Payment Acceptance at CIB Egypt, highlighted the bank’s commitment to supporting companies seeking growth and access to international markets. “The bank provides a range of service providers in various fields, including export, logistics, legal and tax consulting, marketing, and training, all under the umbrella of the ‘CIB Business Solutions’ programme,” he said. “This program assists companies in expanding their business scope and achieving their export goals.”

CIB aims to empower exporters by leveraging its extensive experience in global markets, particularly in African markets. The bank’s direct presence in Kenya is a key part of its strategy, making it one of the first Egyptian banks to establish a presence in Africa. This move paves the way for Egyptian companies to expand into the Kenyan market and the East African region in general. CIB also boasts strong financial relationships with major international institutions and excels in cross-border banking operations, in addition to offering advanced online trade services.

As part of its support for the transition to a green economy, CIB provides specialised financing programs for chemical industrial companies aimed at reducing their carbon footprint and promoting sustainable development.