National Investment Bank grants state Reclamation Firms EGP100 million

By Noha Gad On Feb 4, 2015

Egypt’s National Investment Bank (NIB) has agreed to grant state-owned reclamation firms around EGP 100 million (around US$13 million), board member Momtaz al-Saeed said on Wednesday.

Al-Saeed further told Amwal Al Ghad that NIB also agreed to grant pharmaceutical companies EGP 15 million (around US$2 million). The bank has disbursed EGP 50 million (around US$ 6.5million) in favour of the Egyptian Railway Authority (ERA).

Hence, the bank’s total loans for ERA during this year surge to EGP 153 million (US$ 20 million).

Banks loans