Egypt: National Bank to inject $ 10 billion into infrastructure projects…

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National Bank of Egypt Vice President Yehia Abul Fotouh announced last week that the bank plans to finance infrastructure projects worth 180 billion Egyptian pounds, or about 10 billion USD between 2019 and 2021.

This funding will cover loans to companies operating in the petroleum, electricity and mega-projects sectors. “The total portfolio of financing dedicated to infrastructure projects has reached 400 billion Egyptian pounds, and we aim to increase this volume to 580 billion by 2021,” said Yehia Abul Fotouh at a conference Press.

Founded in June 1898, the National Bank of Egypt is the oldest and largest bank in the country.

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