Banque Du Caire Offers EGP 50 Mln Credit Facilities To Universal

Banque Du Caire approved to provide credit facilities worth EGP 50 million for the Universal Engineering Industries Company.

Such facility will be used to finance the company’s expansions in the new washing machines factory that has been recently renewed by the company, sources said.

The Universal Engineering Industries Company has strong solvency position which encourages banks to finance the company. Sources added that the company’s sales highly increased in the last period.

It is worth mentioning that Banque Du Caire retreated from contributing US$ 15 million to the US$ 58 million loan arranged by Banque Misr for EgyptAir Company in order to buy two Boeing 737-800 from the Boeing Commercial Airplane Company, Seattle, USA.