National Bank of Egypt in Talks with Third Parties to Get US$400 Loan

Unit Head – Product Development & Credit Lines Mohamed Shawky said his bank is in talks with third parties to obtain US$400 million loan.

Speaking to Amwal Al Ghad on Tuesday Shawky added that the parties various among international parties and Arab funds, explaining that these amounts will go for financing small and medium projects.

NBE had previously obtained an European Bank for Reconstruction and Development (EBRD) financing totalling US$50 million, distributed as US$30 million in support of small-sized projects and US$20 million for funding projects run by Egyptian women.

The total value of NBE’s small and medium projects portfolio reached EGP12.3 billion within the first quarter and the numbers of SMEs Clients are 37 thousand clients.

Moreover, NBE has signed contract in this month with Social Fund for Development totalling EGP250 million for micro projects.