National Bank of Egypt, EIB Ink new Agreements worth €120mn Today

Today on the sidelines of Economic Summit-Sharm El-Sheikh Chairman of National Bank of Egypt (NBE) Hisham Okasha said the bank will sign new agreements with European Investment Bank (EIB) worth €120 million in order to go finance for small and medium projects.

In statements to Amwal Al Ghad on Saturday, Okasha explained that obtaining this package will raise the value of the finance obtained by EIB to €200 million after the bank received €80 million in the last year.

The bank recently signed agreements with the Saudi Fund for Development with US$200 million and European Bank for Reconstruction and Development (EBRD) worth US$30 million to finance renewable energy projects.

Moreover, NBE ranked at the top of Egyptian banks in terms of small and medium projects portfolio in addition to the granted funds which recorded EGP13 billion at the end of last January.