The UK and Egypt have finalised a $150m loan agreement during the UK foreign secretary’s trip to Cairo this week.

The Egyptian foreign office said in a statement that UK Foreign Secretary Boris Johnson and President Abdel-Fattah al-Sisi discussed British support for Egypt’s economy including joint work on aviation security, anti-terrorism efforts, and work to resolve regional conflicts.

Egypt is also currently in the final stages of negotiations with the African Export-Import Bank (Afreximbank) for several loans, the lender’s manager of banking operations said at a press conference in Cairo on 23 February.

Heba Abu el-Ezz told reporters the bank is considering a $1.2bn facility for local investors and a $500m facility for banks and financial institutions, with the aim of supporting Egypt’s export industries.