Back to the complete issue
Sunday, 18 February 2018

NBE looking to secure USD 500 mn loan by June’s end

The National Bank of Egypt (NBE) is in talks with international financing institutions for a USD 500 mn loan by June’s end, chairman Yehia Aboul Fotouh told Bloomberg. NBE has already secured USD 1 bn in loans and is looking to add another loan package to improve its USD liquidity. Reports had emerged earlier this month that NBE would sign a EUR 500-750 mn loan agreement with the European Bank for Reconstruction and Development during 1H2018. Separately, NBE is planning to open its first branch in Saudi Arabia by the end of 2018, and is currently waiting on Saudi approval.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.