NBE leads banking consortium to provide €30m loan to Midor – Egypttoday

NBE leads banking consortium to provide €30m loan to Midor – Egypttoday

CAIRO - 7 May 2020: The National Bank of Egypt (NBE) said on Wednesday that it will lead a banking consortium including Credit Agricole Egypt, Faisal Islamic Bank of Egypt, and Suez Canal Bank to arrange a long-term syndicated loan worth €30 million for Midor Electricity Company (MIDELEC).. The NBE and Credit Agricole Egypt will each contribute €12 million to the loan, while Faisal Islamic Bank of Egypt and Suez Canal Bank will each provide a funding of €3 million, NBE's vice chairman Yehia Aboul Fotouh noted.. The nine-year loan will be repaid over seven years to start from the third year of signing the loan.. British Council in Egypt launches huge, free digital library. Egypt launches 1st phase of black sand separation, extraction project in Rashid.