Latest in Tag: Loan Highlight

Advertising Area





Latest in Tag: Loan


Egypt receives final $1bn tranche of World Bank loan

Egypt has received the third and final $1bn tranche of the $3bn World Bank loan on Wednesday, according to Minister of Investment and International Cooperation Sahar Nasr. Nasr added that Egypt has received another $150m from the Group of Seven (G7), in addition to receiving $250m from Germany and $170m from France, to fund the …

Mohamed Samir

Attijariwafa Bank Egypt loan portfolio grew 31% at end-Q3 2017

Real estate, energy, food, leasing, microfinance sectors accounted for large part of bank’s loans Attijariwafa Bank-Egypt achieved a 31% growth in total loans by the end of Q3 2017, after the bank registered growth in corporate loans by 38% to reach EGP 8.6bn, up from EGP 6.3bn at the end of 2016. According to the …

Daily News Egypt

How to get a personal loan from AlexBank

If you are a government or private sector employee whose employer transfers salaries to the bank through a written statement, you can obtain a personal loan from the Bank of Alexandria (AlexBank). According to the bank, the payment period is up to eight years, with competitive interest rates and fees. The minimum amount of financing …

Daily News Egypt

$10m loan to finance MSMEs from SANAD in partnership with Banque du Caire

The SANAD Fund for MSMEs (SANAD) announced, in a press statement on Monday, that it will finance a $10m senior loan to Egypt’s Banque du Caire to support the expansion of the bank’s lending operations for micro, small, and medium enterprises (MSMEs). Banque du Caire, which is Egypt’s sixth largest bank, with its status as …

Mohamed Samir

Egypt to receive final $500m tranche of AfDB loan 

Egypt signed on Sunday an agreement to receive the third and final $500m portion of its $1.5bn African Development Bank (AfDB) loan. The agreement was signed between Minister of Investment and International Cooperation Sahar Nasr and Malinne Blomberg, the AfDB’s country manager for Egypt. The AfDB loan aims to finance Egypt’s comprehensive structural reform programme. …

Mohamed Samir

Arabian Cement Company to settle off $30.9m NBE loan by Mid-2021

Arabian Cement Company (ACC) announced that it received approval on rescheduling the $30.9m loan granted by the National Bank of Egypt (NBE), according to press statement on Wednesday. The statement said that the loan will be repaid on 15 quarterly instalments at 2m each, with a debt rate on foreign currencies of 5% above London …

Shaimaa Al-Aees

How to obtain a personal loan from Banque du Caire?

Banque du Caire offers personal loans to public and private sector employees, as well as to bank employees. The minimum monthly income required for obtaining the loan is EGP 300 for public sector employees, EGP 1,500 for private sector employees, and EGP 2,000 for bank employees. The maximum amount for a personal loan is EGP …

Daily News Egypt

IMF approves disbursement of $2bn third portion of loan to Egypt

The executive board of the International Monetary Fund (IMF) announced Wednesday its completion of the second review of Egypt’s economic reform programme, allowing the disbursement of $2bn, the third portion of the $12bn IMF loan to Egypt approved in November. The third portion brings the total disbursements to about $6.08bn. The IMF delegation completed their …

Mohamed Samir

NREA negotiates with 5 banks to obtain EGP 1bn revolving loan

The New and Renewable Energy Authority (NREA) is currently in talks with five local banks to obtain a revolving loan worth EGP 1bn to finance solar power projects with capacities of less than 500 kW. Sources from the NREA said that it is negotiating with Banque Misr, the National Bank of Egypt (NBE), and the …

Mohamed Farag

IMF to convene in December over 2nd part of $12bn Egypt loan

The International Monetary Fund’s (IMF) board of directors is set to convene on 20 December to discuss the second portion of the $12bn loan to Egypt. An IMF mission visited Egypt from 25 October to 9 November to review Egypt’s IMF-supported economic reform programme. According to Subir Lall, IMF mission chief for Egypt, fund experts …

Ahmed Ismail

How to get a car loan from AAIB

The Arab African International Bank (AAIB) requires owning an account at the bank to obtain a car loan. Applicants will also need to provide a copy of their valid national ID card. Applicants must be 21 to 65 years old at the end of the loan period. They also must have been an employee at …

Daily News Egypt

Out of a $3bn total, Nasr signs 3rd tranche of World Bank loan worth $1.15bn

Sahar Nasr, minister of Investment and International Cooperation, signed the third tranche of the World Bank loan, estimated at $1.15bn, from a total of $3bn. Acting Prime Minister Mostafa Madbouly and Minister of Electricity Mohamed Shaker attended the signing. During the ceremony, Nasr said that the third tranche will be directed to implement reforms in …

Daily News Egypt

World Bank to disburse 3rd part of loan this month

The Egyptian government will receive the third portion—worth $1bn—of the World Bank loan before the end of this month, an official source at the Ministry of Finance said. According to the source, who asked not to be named, the World Bank’s board of directors will hold a meeting this week to discuss the approval to …

Ahmed Ismail

IFC loans CIB $100m

The International Finance Corporation (IFC) signed an agreement on Tuesday with the Commercial International Bank (CIB) to fund it with $100m. This funding is considered the first supporting loan provided by the IFC to a local bank. This came after the recent regulations approved by the Central Bank of Egypt (CBE) allowing international finance institutions …

Mohamed Farag

IMF votes on second tranche of Egypt’s loan

The International Monetary Fund’s (IMF) Executive Board plans to vote Thursday on the first review of Egypt’s economic reform programme, in which Egypt will receive $1.25bn. Egypt has received the first tranche of the loan, worth $2.75bn, in November 2016. The IMF had agreed on Egypt’s loan, worth $12bn, in 2016. The IMF delegation came …

Daily News Egypt

Afreximbank signs loan to Banque Misr worth $200m next week

The African Export-Import Bank’s (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …

El Husseiny Hassan