The structure of the two framework agreements is identical. Loans will be available with tenors of up to eight and a half years, on a single or multi-sourced basis. The agreement is aimed both at providing financing to foreign companies working on projects in Egypt and enabling local firms entering into international contracts to access the cover provided by export credit agencies.

HSBC says it has already started discussions with a number of private and public sector concerns in Egypt about taking advantage of the new facilities