France’s AFD to sign €150 million financing deal with 3 Egyptian banks in Q1-2022, source says

The French Development Agency (AFD) is expected to sign a new financing agreement worth around €150 million ($169 million) with three Egyptian public lenders within the first quarter of 2022, an official source said on Wednesday.

The three Egyptian lenders to sign the AFD deal are the National Bank of Egypt (NBE), Banque Misr, and Banque du Caire, the source further told Amwal Al Ghad.

The loan will be directed to finance several projects in Egypt in areas of transport, energy, water desalination, and small and medium-sized enterprises (SMEs), he added.