Banque Misr signs US$70.15m grant with Inertia Egypt to finance its coast project

EGYPT – Banque Misr, a financial service provider, has signed an eight and a half-year Modaraba Islamic financing with Inertia Egypt to grant the company EGP 1.1 billion (US$70.15m), which will be used to finance the fourth phase of the company’s Coast project; Jefaira. Jefaira, a fully integrated coastal city, spans over 5.5 mn square meters in the North Coast, with a capacity of 12,000 to 14,000 units and total investments reaching EGP66 billion.  The project offers a wide range of services, including medical, educational and entertainment services to be…

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