Al Baraka Bank says allocates $127.7 million for Egyptian national projects

Al Baraka Bank Egypt, part of Bahrain’s Al Baraka Group, is allocating this year around one billion Egyptian pounds ($127.7 million) for financing some Egyptian national projects.

The sum allocated will go for cement, natural gas, petrochemicals, and Suez Canal-related logistics projects, Al Baraka Bank Egypt chairman, Ashraf El-Ghamrawy told Amwal Al Ghad Sunday.

The bank has allocated around 500 million pounds to take part in financing projects in energy, notably electricity, and oil sectors.