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Wednesday, 3 November 2021

NBE wants to borrow USD 1.5 bn from int’l lenders in 2022

The National Bank of Egypt (NBE) is in the market to borrow USD 1.5 bn from international institutions next year, Deputy Chairman Yehia Aboul Fotouh told Hapi Journal. This would match the amount it borrowed this year, he said. Media reports earlier this year suggested that the bank was close to an agreement for a USD 1 bn loan, part of which would be used to refinance existing debts. The European Bank for Reconstruction and Development (EBRD) and the French Development Agency (AFD) lent the bank USD 100 mn loan to on-lend to green projects, and last week the AIIB and the OPEC Fund signed off on a USD 200 mn loan for infrastructure projects.

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