Banque Misr Says May Pump EGP4 billion in Joint Finance Deals

Banque Misr intends within 2014 to pump 4 billion Egyptian pounds in a number of joint funding processes, designated for sectors of telecommunications, petrochemicals and fertilizers besides a number of infrastructure enterprises.

Speaking to Amwal Al Ghad’s Arabic website, Vice Chairman of Banque Misr Mohamed Abbas Fayed said his bank aims to arrange loans in telecommunications sector in favour of the mobile operators Vodafone Egypt and Mobinil.

“Banque Misr will be soon signing its loan agreement with Delta Co. for Fertilizers which amounts to US$ 344 million.” He noted

Furthermore, Banque Misr has agreed to join the banking consortium to finance the first PPP project, the hospitals of Alexandria University, at value exceeding EGP one billion, Fayed added.

In 2013, Banque Misr has managed to arrange and take part in multiple funding processes worth more than EGP 6.7 billion in sectors of real estate investment, electricity and transportation as well as in dollar-dominated funding processes, notably the Egyptian Company for Polyethylene’s US$1.2 billion loan.