France’s AFD to sign €140 million financing deal with 3 Egypt banks in Q3

NBE, Banque Misr to receive €50 million, Banque Misr to get €40 million

The French Development Agency (AFD) will sign a financing agreement worth around €140 million ($150.1 million) with Egypt’s biggest three public banks by the end of the third quarter of the year.

The deal will see AFD giving €50 million to the National Bank of Egypt (NBE), €50 million to Banque Misr, and €40 million to Banque du Caire, Amwal Al Ghad quoted an AFD official source as saying on Tuesday.

The loan is designed to finance several projects Egypt that support sustainable development goals, mainly the small and medium-sized enterprises (SMEs), women empowerment, and climate-finance investments, the source added.

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