Latest in Tag: Loan Highlight
Latest in Tag: Loan
$10m loan to finance MSMEs from SANAD in partnership with Banque du Caire
The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egyptâs Banque du Caire to support the expansion of the bankâs lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egyptâs sixth largest bank, with its status as …
Egypt to receive final $500m tranche of AfDB loanÂ
Egypt signed on Sunday an agreement to receive the third and final $500m portion of its $1.5bn African Development Bank (AfDB) loan. The agreement was signed between Minister of Investment and International Cooperation Sahar Nasr and Malinne Blomberg, the AfDBâs country manager for Egypt. The AfDB loan aims to finance Egyptâs comprehensive structural reform programme. …
Arabian Cement Company to settle off $30.9m NBE loan by Mid-2021
Arabian Cement Company (ACC) announced that it received approval on rescheduling the $30.9m loan granted by the National Bank of Egypt (NBE), according to press statement on Wednesday. The statement said that the loan will be repaid on 15 quarterly instalments at 2m each, with a debt rate on foreign currencies of 5% above London …
Finance, Investment Ministries to meet Russian officials over Dabaa nuclear loan within 2 weeks
Egypt set to receive first loan portion worth $200m in 2018 to finance implementing designs, obtaining required licenses
How to obtain a personal loan from Banque du Caire?
Banque du Caire offers personal loans to public and private sector employees, as well as to bank employees. The minimum monthly income required for obtaining the loan is EGP 300 for public sector employees, EGP 1,500 for private sector employees, and EGP 2,000 for bank employees. The maximum amount for a personal loan is EGP …
IMF approves disbursement of $2bn third portion of loan to Egypt
The executive board of the International Monetary Fund (IMF) announced Wednesday its completion of the second review of Egyptâs economic reform programme, allowing the disbursement of $2bn, the third portion of the $12bn IMF loan to Egypt approved in November. The third portion brings the total disbursements to about $6.08bn. The IMF delegation completed their …
NREA negotiates with 5 banks to obtain EGP 1bn revolving loan
The New and Renewable Energy Authority (NREA) is currently in talks with five local banks to obtain a revolving loan worth EGP 1bn to finance solar power projects with capacities of less than 500 kW. Sources from the NREA said that it is negotiating with Banque Misr, the National Bank of Egypt (NBE), and the …
First batch of Dabaa Nuclear Plant loan to be received next month
Construction work to begin in 2020,Â
IMF to convene in December over 2nd part of $12bn Egypt loan
The International Monetary Fund’s (IMF) board of directors is set to convene on 20 December to discuss the second portion of the $12bn loan to Egypt. An IMF mission visited Egypt from 25 October to 9 November to review Egypt’s IMF-supported economic reform programme. According to Subir Lall, IMF mission chief for Egypt, fund experts …
How to get a car loan from AAIB
The Arab African International Bank (AAIB) requires owning an account at the bank to obtain a car loan. Applicants will also need to provide a copy of their valid national ID card. Applicants must be 21 to 65 years old at the end of the loan period. They also must have been an employee at …
Out of a $3bn total, Nasr signs 3rd tranche of World Bank loan worth $1.15bn
Sahar Nasr, minister of Investment and International Cooperation, signed the third tranche of the World Bank loan, estimated at $1.15bn, from a total of $3bn. Acting Prime Minister Mostafa Madbouly and Minister of Electricity Mohamed Shaker attended the signing. During the ceremony, Nasr said that the third tranche will be directed to implement reforms in …
World Bank to disburse 3rd part of loan this month
The Egyptian government will receive the third portionâworth $1bnâof the World Bank loan before the end of this month, an official source at the Ministry of Finance said. According to the source, who asked not to be named, the World Bank’s board of directors will hold a meeting this week to discuss the approval to …
IFC loans CIB $100m
The International Finance Corporation (IFC) signed an agreement on Tuesday with the Commercial International Bank (CIB) to fund it with $100m. This funding is considered the first supporting loan provided by the IFC to a local bank. This came after the recent regulations approved by the Central Bank of Egypt (CBE) allowing international finance institutions …
BNP Paribas arranges âŹ98.5m loan to EETC
Loan will be used to finance the construction of the Samannoud and Abu Al Matamir transformer substations
Egypt seeks to unlock third tranche worth $1bn of World Bank loan
Sahar Nasr discusses releasing the disbursement before the year-end
Egypt awaits 3rd tranche worth $1bn of World Bankâs loanÂ
World Bank sees economic reforms taken by the Egyptian government as spectacular
Egypt to receive third tranche of AfDB loan by February 2018
The government of Egypt has never defaulted on its debt payments to the international financial institutions, says AfDBâs resident representative
EGP 55bn increase in bank deposits, EGP 39bn increase in loan portfolio in May 2017: CBE
Foreign investments in T-bills hike to EGP 176,000bn at the end of June, compared to EGP 136.157bn at end of May
Why IMF cut its estimates of Egyptian economy after first review?
The IMF raises its estimates of inflation and debt and lowers its growth forecast
IMF approves second tranche of $12bn loan, $1.25bn to be transferred within days finance ministerÂ
The executive board of the International Monetary Fund (IMF) has approved the disbursement of the second tranche of the $12bn loan and $1.25bn will be transferred within days, according to Finance Minister Amr El Garhy. El Garhy added that he is currently coordinating with the IMF to transfer the funds to the accounts of the …
IMF votes on second tranche of Egyptâs loan
The International Monetary Fundâs (IMF) Executive Board plans to vote Thursday on the first review of Egyptâs economic reform programme, in which Egypt will receive $1.25bn. Egypt has received the first tranche of the loan, worth $2.75bn, in November 2016. The IMF had agreed on Egyptâs loan, worth $12bn, in 2016. The IMF delegation came …
Parliament discusses loan for developing transmission and distribution network of electricity
Parliament will discuss a loan agreement worth EGP 37bn for the development of electricity transmission and distribution network on Monday. MP El-Sayed Hegazy stated that the terms, conditions, and mechanisms of the loan submitted by local banks to the Ministry of Electricity will be reviewed by the General Plenary of the House of Representatives. The …
Economic ministerial group discusses the third $500m tranche of AfDBâs loan
Egypt is currently in a good position to attract more investments, says AfDBâs mission to Egypt
Afreximbank signs loan to Banque Misr worth $200m next week
The African Export-Import Bankâs (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …
Barclays Egypt’s loan portfolio increases by EGP 1.7bn in Q1 2017
The bank’s net profit after taxes reached EGP 258m at the end of March 2017, says SharifÂ
United Bank provides EGP 200m to finance small and micro enterprises: chairperson
Bank launched Intlaka programmeâ for financing small and micro enterprises in increasing production of local components
Increase of HDB loan portfolio to EGP 10bn in late March 2017: chairperson
The bank is still awaiting the CBE’s approval to separate real estate activity from trade activity, according to El Sebaie
âŹ186m loan from EBRD, EU for developing infrastructure in Fayoum
The funding will support the construction of 8 new wastewater treatment plants
$243m from JICA to finance EEHC’s automated control centres
The loan will be paid on 30 years with 10-year grace period and 0.01% interest rate
Banks tend to maintain interest rates unchanged despite CBE’s 2% hike
Government banks offer highest return on savings in the local market and they need to study the impact of new rises on money cost