Cairo – Mubasher: National Bank of Kuwait – Egypt (NBK - Egypt) said it signed an agreement to secure finance up to $75 million from the International Finance Corporation (IFC).
The loan will be distributed across three equal tranches, where the first one will amount to $25 million and will be directed towards financing small and mid-caps, said Yasser Hassan, NBK-Egypt's Managing Director.
Meanwhile, the loans’ second and third tranches will be directed towards power projects , in addition to financing exports deals.
This loan will be considered the first one that IFC allocates to finance small and mid-caps, noted Hassan.
