Egypt's NBE signs $600 mln loan deal with China Development Bank
Egypt – State-run National Bank of Egypt (NBE) said on Wednesday it had signed a $600 million loan agreement with the China Development Bank.
From the Equity Insider archive. This article dates from Sep 7, 2018 and is preserved as first published.
Egypt – State-run National Bank of Egypt (NBE) said on Wednesday it had signed a $600 million loan agreement with the China Development Bank.
It said in a statement the loan deal was signed in Beijing on Tuesday “to finance the working capital of NBE customers”, without elaborating.
NBE received a $700 million loan from the China Development Bank to finance infrastructure projects in 2016.
NBE received a $700 million loan from the China Development Bank to finance infrastructure projects in 2016.
Egypt is trying to spur economic growth after a 2011 uprising ushered in political instability that scared off tourists and foreign investors.
