NBE Offers EGP 12 Mln To Finance Two Under-Construction Hotels In Taba

Nuweiba and Taba Investors Association has agreed with the National Bank of Egypt (NBE) that the later will offer finance of EGP 12 million to complete the establishment of two under-construction hotels in the Egyptian-Israeli border area.

Samy Soliman, head of the Nuweiba and Taba Investors Association, told Amwal Al Ghad that the investors received part of the above mentioned finance and they will receive the rest after finalizing all procedures.

Soliman called for accelerating the procedures of offering finances as lenders approved to offer finances of EGP 10 billion to 40 under-construction hotels in Nuweiba and Taba, but the investors still wait the finances to resume the construction of hotels. NBE earlier announced it will offer EGP 500 million to finance the construction of these hotels.