NBE studies Pumping EGP1bln, EGP200mln for Food and Petroleum Sectors

The National Bank of Egypt (NBE) is considering pumping funds with total value EGP1billion and EGP200million OF food and petroleum sectors.

Senior sources have informed Amwal Al Ghad that NBE is studying granting EGP800 million in favor of 4 firms operating in foodstuffs field , while 3 private firms operating in petroleum field are negotiating in order to obtain EGP400 million.

The sources added that the bank is considering granting fund for the development of Assiut refinery in both local and foreign currencies, divided by EGP600 million and $230 million.

The loan portfolio and credit facilities of NBE recorded around EGP115 billion, the bank is targeting to attain 10% growth rate within the current fiscal year.