NBE considers LE 700 mln credit facilities to Mokhtar Ibrahim

Arab Finance
1 Min Read

National Bank of Egypt may provide L.E 700 million credit facilities to Egyptian Contracting (Mokhtar Ibrahim) on two trenches.

The first trench (LE 200 million) will be allocated to fund contracting operations awarded by governmental bodies to the company and will also allow local and foreign Letters of Credit to import necessary material.

The firm will use the remaining LE 500 million in backing its entrance in offered bids. Bank total facilities provided to Mokhtar Ibrahim reached LE 1.257 billion.

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