Banque Du Caire pledges $100 million to New Suez Canal Loan

Banque Du Caire intends to contribute US$100 million to a bridge finance being arranged to fund Egypt’s new Suez Canal project.

The bridge finance is at value of US$565 million approximately, to go for funding some payments in the new waterway project.

From his part, Mounir El Zahed – Banque Du Caire’s Chairman and CEO – said the new Suez Canal project is one of the most vital projects the bank is keen to take part in again.

Last year, Banque Du Caire offered investment certificates created to fund the new Suez Canal Development Project.

The syndicated finance Banque Du Caire is taking part in favour of the new waterway project will be a new beginning for the bank to start more funding deals this year, El Zahed noted.