NBE Delays Launching River Transport Company

The National Bank of Egypt (NBE) has delayed forming a river transportation company. Despite receiving the designs of ports from Russian and Dutch companies, regulators have not yet licensed the new company; which in turn postponed launching the project especially amid the current unrest, said Tarek Amer, chairman of NBE.

Amer affirmed on the Bank’s concern to finance government or private projects with acceptable feasibility studies, stressing on the importance of supporting private-sector projects as they are capable of providing many job opportunities.

There are more than 40,000 university graduates every year which raises the need for providing many job vacancies, Amer noted.

In addition, school and university curriculums shall cope with the market requirements. The Bank receives poor feasibility studies making the lender refuse to offer the required finance, Amer concluded.