Al-Ahly of Egypt leads an alliance to guarantee £ 12 billion in financing

A banking alliance led by the National Bank of Egypt, with the participation of The United Bank, managed to provide medium-term joint financing in the amount of 12.3 billion pounds for the benefit of Al-Gharabli Company for Integrated Engineering Works.

The banking alliance included 11 banks, led by the National Bank of Egypt, then from United Bank, Banque Misr, Commercial International Bank, National Bank of Kuwait, from the Bank of Cairo, from Credit Agricole Egypt, from the Export Development Bank of Egypt, from Alexandria Bank, from Suez Canal Bank and Arab Investment Bank.

The joint bank financing aims to finance part of the operation assigned by the Navy to implement the development process of the new port of Abu Qir through the north and south expansions of the port, and the development of the new city of Abu Qir, with an overall value of approximately 19.06 billion pounds.

The shares of the banks participating in the loan amount to approximately £ 3.250 billion for the National Bank of Egypt, 3 billion pounds for Banque Misr, 1.022 billion pounds for Commercial International Bank, 1 billion pounds for the National Bank of Kuwait, £ 750 million for each of Banque du Caire and Credit Agricole, and £ 700 million The Egyptian Export Development Bank.

In addition to £ 500 million each for the Bank of Alexandria, the Suez Canal Bank and the United Bank, and £ 300 million for the Arab Investment Bank.

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