NBE Offers EGP 3.5 Bln to Tourism, Real Estate, Agriculture Sectors

The National Bank of Egypt (NBE) has injected EGP 3.5 billion to 38 customers in tourism and real estate sectors since the beginning of 2011 till the end last May, sources told Amwal Al Ghad.

NBE offered EGP 1.3 billion to 25 customers working in tourism, EGP 1.8 billion to 3 customers working in real estate sector and EGP 340 million to 10 customers working in agricultural sector, sources added.

Sources affirmed that NBE was not reluctant in financing tourism and real estate projects while other banks were wary of offering finance for these sectors which were hardly hit by a recession in the last year.