Cairo – Mubasher: National Bank of Egypt (NBE) is in conversation with the European Investment Bank (EIB) to obtain an EUR 750 million external financing, NBE’s deputy chairman Yehia Abu Elfotouh Ibrahim has said.
The Arab country's largest state bank will inject the loan into the small- and medium-sized businesses (SMBs), sources told local newspaper Alborsa News.
The EIB is reviewing the loan, while the NBE’s executive board will vote for the external funding within the few next days, sources indicated.
Abu Elfotouh previously told Bloomberg News that the NBE had already received $1 billion in loans over the past period, and was seeking to obtain a new loan to reinforce its dollar liquidity.
