ADIB Capital secures €40 million for Egypt’s Electricity Holding

ADIB Capital, the investment banking arm of the Abu Dhabi Islamic Bank (ADIB) Egypt, has secured €40 million ($43.8 million) for the state-owned Egyptian Electricity Holding Company (EEHC).

The loan is designated to secure EEHC’s financial resources needed for building power plants as part of the government’s emergency for increasing electricity production.

The loan will be paid over five years, including a two-year grace period, senior sources with knowledge told Amwal Al Ghad on Monday.