Cairo - Mubasher: A banking consortium led by the European Bank for Reconstruction and Development (EBRD) has approved the National Bank of Egypt’s (NBE) request to obtain a $750 million (EGP 13.22 billion) financing package.
The loan agreement will include raising the financing value that the bank has got before, which reached $390 million three years ago, with repayment due by mid-year.
Around $150 million are expected to be directed towards financing small and medium enterprises (SMEs).
NBE is also expected to agree another loan with the EBRD between $500 and 750 million.
