NBE Mulls Lending 2 Poultry Companies EGP 300 Mln

The National Bank of Egypt (NBE) considers offering EGP 300 million to two poultry companies.

Sources said the bank’s executive committee will decide whether to approve lending the two companies or not. NBE plans to increase its loans to the food sector and attract new customer segments especially international and multinational companies.

The poultry sector is one of the most important sectors which secures finances from NBE as the lender has recently signed the definitive agreement of the EGP 200 million sharia-complaint finance offered to Al-Watania Poultry.

The executive committee will also study lending two tourism companies with EGP 350 million as part of the bank’s efforts in supporting the sector, a source said.