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FINANCIAL NEWS
Five banks issue EGP37.4bn to support Egypt’s elect sector
20 Jul 2017
(MENAFN) Five banks working in the regional market inked two deals at EGP37.4bn worth in order to support the elect sector, in one of the major financing transactions between the Egyptian banking system.
Furthermore, the first deal was inked with the Egyptian Holding Elect Co. worth EGP19.4bn under the agency and management of the National Bank of Egypt.
In addition, the second agreement was inked with the Egyptian Elect Transmission Co. with financing of EGP18bn under the agency and management of Banque Misr.
The loan aims to enhance and develop the national network for the transfer of elect, through the installation of new transformer stations.
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MENAFN2007201700450000ID1095641107
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