NBE secures US$100m loan from EBRD to support SMEs

National Bank of Egypt partners IFC

EGYPT – National Bank of Egypt (NBE) has secured US$100 million loan from European Bank for Reconstruction and Development (EBRD) to support the country’s small and medium-sized enterprises (SMEs).    The loan will benefit Egypt’s SMEs in terms of energy efficiency, climate change mitigation and the introduction of adaptation technologies, according to the EBRD.    NBE will on-lend the funds to SMEs operating in the sectors of industry, commerce and agriculture to help improve the use of energy, water and land resources, as well as investments in high-performing technologies, which is expected to support…

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Real estate developer Maxim Development secures US$28 additional loan from NBE

EGYPT – Maxim Development, a real estate developer, has acquired has secured EGP 450 million (US$28.73m) syndication loan, a new one from the previously signed with the National Bank of Egypt (NBE), in cooperation with the Arab African International Bank (AAIB). The financing will go towards accelerating operations at the Bo Sidi Abdel Rahman development. The new portion will be directed to the project’s construction process, and to expedite the delivery of the contracted units, in addition to paying a new instalment of the land price. This is the third…

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NBE partners talabat to provide advanced digital payment solutions to its customers

EGYPT – National Bank of Egypt (NBE) has signed a partnership agreement with tech company talabat to provide advanced digital payment solutions through the company’s application, with ease and security prioritized, in order to reduce cash handling, report Daily News Egypt. The cooperation stems from the mutual strategic focus towards the expansion of electronic payments, as well as supporting the Egyptian government’s financial inclusion and digital transformation policies. Karim Sous, Chief Executive Officer of Retail Banking and Branches at the National Bank of Egypt, stated that this agreement comes within…

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Al-Sharif Holding Group, NBE sign long-term financing contract for Shepherd Hotel development project

EGYPT – The Al-Sharif Holding Group, an Engineering, Procurement & Construction Company, and National Bank of Egypt (NBE) have signed a long-term financing contract that will contribute an EGP 978.2 million (US$62.45m) loan to the Shepherd Hotel development project. The loan, which will go towards the projects total cost of EGP 1.4 billion (US$89.38m), comes with an interest rate of 8% and a grace period of 3.5 years. Sharif Nawwaf bin Fayez, CEO and board member of the Al-Sharif Holding Group said that the facilities granted by the NBE are…

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NBE and AFD to finance climate conservation and development projects with US$119.15m

EGYPT – The National Bank of Egypt (NBE) and the French Development Agency (AFD) have signed a new credit facility agreement worth €100 million (US$119.15m) with the aim of financing climate conservation and sustainable development projects in Egypt. Chairperson of the NBE, Hisham Okasha, said that the new agreement will allow directing finance and support to the projects that are fully compatible with the sustainable development goals and the environment conservation. Fabio Grazi, Director of the AFD’s Regional Office in Egypt, affirmed the French Agency’s interest in this funding, especially…

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NBE receives ISO 27001:2013 certification for information security management systems

EGYPT – The National Bank of Egypt (NBE) has announced that it has been awarded ISO 27001:2013 certification for information security management systems by BSI, the British Standards Institute. The certification covers all of NBE’s electronic branches in the country which provide customers with a complete digital experience of some of NBE’s banking services without any human intervention. The bank has also renewed its certification for the previously awarded scope in 2016 & 2017 for its data centers and call center. Dalia el Baz, NBE deputy chairman confirmed that NBE’s…

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