By: Islam Fadl
Cairo – Mubasher: Global Lease has injected EGP 600 million finance during the first five months of 2019, the company’s chief risk officer, Hisham Abdel Fattah, said.
The company aims to inject EGP 400 million finance from June to December, Abdel Fattah told Mubasher.
During the January-May period, the real estate development sector received about 34% of the company’s finance portfolio, he revealed.
Global Lease plans to increase its finance portfolio to EGP 3.5 billion by the end of 2019 from EGP 3 billion.
Over the last 18 months, the company provided EGP 50 million finance to the solar energy sector, with plans to offer an additional finance of EGP 50 million to the sector.
In addition, Global Lease signed a protocol of cooperation with Banque Misr, Bank of Alexandria, and Attijariwafa Bank to finance and support small and medium enterprises (SMEs).
In June, Abdel Fattah revealed that the company is in talks with two banks for securing EGP 400 million loan.
Translated by: Zeinab Adel
