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National Bank of Egypt eyes $1bn foreign loans this fiscal year
Published in Amwal Al Ghad on 25 - 10 - 2015

National Bank of Egypt is negotiating with a number of international financial institutions to get loans of US$1 billion during the current fiscal year. The loans will go for financing small and medium-sized enterprise (SMEs).
Mohamed Shawky, Products Development and Credit Lines for SME Division at NBE, said his bank would obtain soon a funding worth US$15 million from SANAD Fund for MSMEs, of the German Kfw Development Bank, designated to finance small projects in Egypt.
Shawky added that NBE had managed to sign agreements totalling US$850 million with international financial institutions in the past fiscal year 2014/15.
Elsewhere, NBE has signed an agreement worth €120 million on the third phase of Egyptian Pollution Abatement Project (EPAP) with the European Investment Bank and the French Development Agency (AFD).


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