NBE Khartoum To Attract US$ 500 Mln Investments In Three Years

The National Bank of Egypt (Khartoum) will attract direct investments worth SU$ 500 million from Egypt to Sudan during three years, said Tarek Amer, chairman of NBE.

The bank will encourage the Egyptian businessmen to invest in Sudan through offering direct credit facilities and providing methods for securely transporting cash between both countries, Amer added.

The Egyptian investments in Sudan will increase in the upcoming period especially after the development of the Sudanese banking sector. NBE (Khartoum) does not target achieving high profit, but it rather plans to participate in building a strong Sudanese economy, Amer affirmed.

After the revolution, Egypt has become more focused in deepening the relations with Arab countries especially Sudan. The National Bank of Egypt (Khartoum) is launched after the Egyptian and Sudanese presidents agreed to increase the trade exchanges, encourage Egyptian and Sudanese businessmen to invest in both countries and establish a common monetary mechanism to be a mediator between the central banks of both countries in order to facilitate the financial transactions.