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Monday, 8 June 2020

EBRD to provide NBK Egypt with USD 100 mn for private sector

The EBRD will provide the National Bank of Kuwait Egypt with USD 100 mn for onlending to the private sector, according to a statement by the International Cooperation Ministry. Minister Rania Al Mashat had said in April that the EBRD has expanded its short-term liquidity funding package for its Southern and Eastern Mediterranean countries, including Egypt, following talks with multilateral lenders.

In separate news, EBRD awarded Egypt two international sustainability awards, a statement by the bank said. The Egyptian Electricity Transmission Company won a silver award for promoting green skills for women in the renewable energy sector, and the Egyptian National Railways won a bronze award for cracking down on harassment on the country’s rail network. The lender recognized a total of 16 clients in 11 countries for environmental and social sustainability.

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