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| 15 November, 2017

EBRD signs $75mln SME loan deal with Egypt's oldest bank

People walk in front of Banque Misr in Cairo, Egypt, November 3, 2016.

People walk in front of Banque Misr in Cairo, Egypt, November 3, 2016.

REUTERS/Mohamed Abd El Ghany

The bank will sign another loan deal worth $50mln before the end of this year: chairman

Egypt’s oldest bank Banque Misr has signed Tuesday a $75 million loan agreement with the European Bank for Reconstruction and Development (EBRD).

The loan will go for financing small and medium-sized projects in Egypt, said Banque Misr’s chairman Mohamed El Etreby.

“The bank will sign another loan deal worth $50 million before the end of this year,” El Etreby added.

The state-run second largest bank is negotiating to secure more foreign loans ranging between $500 million and $750 million in the coming period.

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© Amwal Alghad 2017