Cairo – Mubasher: Global Lease Company (GLC) on Monday announced that it has obtained a $5 million loan from the Green for Growth Fund (GGF) to promote financing of renewable energy projects, along with offering fresh products.
Established in 2015, the Cairo-based firm managed to be well positioned among Egypt’s top ten leasing companies in less than three years, Global Lease’s CEO Hatem Samir said.
GLC has successfully invested the first tranche of GGF’s loan, which amounted to $2.5 million, in just four months of disbursement, he added.
Last week, the company has obtained EGP 1 billion in financing from six Egypt-based lenders during the first eight months of this year.
Global Lease is looking to boost its financing portfolio to EGP 2.5 billion by the end of this year after it reached nearly EGP 2 billion, versus EGP 1.7 billion at the end of 2017.
