NBE Receives 3rd Tranche For Industrial Pollution Control Next May

The National Bank of Egypt (NBE) targets to sign the third tranche agreements of the Industrial pollution control project next May with six international financial institutions.

Sources said the World Bank, European Investment Bank, KfW Bankengruppe and French Development Agency are the main prominent institutions collaborating in this project.

NBE received the second tranche from four international financial institutions in three different currencies with value amounting to US$ 180 million to provide projects with the required finance to control industrial pollution and conserve energy.

NBE’s finances to small and medium enterprises (SMEs) reached about EGP 890 million in Q1 of the current fiscal year from which 3,000 new customers benefit. The bank plans to raise the value of SME finances to EGP 4 billion by the end of FY 2012/2013.