NBD: Three Banks To Contribute To East Delta Electricity Production Loan
Three banks have initially approved to cover from 70% to 75% of the Islamic finance amounting to US$ 120 million which is arranged by the National Bank for Development (NBD) for the East Delta Electricity Production Company.
Sources told Amwal Al Ghad that Banque Misr, Bank Audi and United Bank approved officially to contribute to the loan. NBD awaits the approval of another bank about contributing to the loan.
Banque Misr offered to contribute US$ 30 million, Bank Audi said to contribute US$ 25 million and Bank Audi considers contributing US$ 25 million.
The loan will be used to finance the importing of turbine spare parts with value of US$ 120 million for the East Delta Electricity Production Company.
