Six banks collaborate on EGP 2bn financing for Abd El Salam El Feky & Partners

Daily News Egypt
1 Min Read

Led by the Export Development Bank of Egypt (EBank), a consortium of six banks has orchestrated a joint financing package worth EGP 2bn for Abd El Salam El Feky & Partners, a firm specializing in contracting and engineering consultations.

This financial collaboration, which includes the Housing and Development Bank (HDB), United Bank, Suez Canal Bank, MID Bank, and National Kuwait Bank (NBK), aims to fund the renovation of Alexandria Port’s main breakwater and other initiatives designed to enhance Egypt’s port infrastructure.

As the primary arranger and loan issuer, EBank plays a pivotal role in this venture, aligning with Egypt’s strategic efforts to transform into a global trade and logistics nexus, leveraging its prime location along the Mediterranean and Red Seas.

Ahmed Galal, EBank’s Chairperson, emphasized the bank’s commitment to national projects, noting that upgrading the Grand Port of Alexandria is fundamental to improving the maritime transport sector’s efficiency. He expressed confidence that such projects would inspire further investment in port development.

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