The Arab Bank for Economic Development in Africa (BADEA) has approved to grant Egypt a Line of credit (LOC), worth 500 million dollars during a meeting held Wednesday in Khartoum, the minister of investment and international cooperation said.

In statements on Thursday, Sahar Nasr said this move is meant to lure Egyptian businessmen to pump investments into the African market.

The line of credit will contribute to supporting a number of promising sectors in Africa, notably medicine, fertilizers, foodstuffs and petroleum products, she noted.