Tuesday, Dec 01, 2009
CAIRO (Dow Jones)--Commercial International Bank, or CIB, in coordination with four other banks, has finalized a 185 million Egyptian pound ($34 million) loan to the real estate unit of Citadel Capital, Bonyan Development and Trade, Egyptian daily Al Mal reports Tuesday.
The other banks are Audi Bank contributing EGP40 million, Arab Investment Bank contributing EGP45 million. Housing and Development Bank and the Egyptian Arab Land Bank will each pay EGP50 million respectively, the paper reports.
The loan will be used to pay for establishing the second and third stages of a furniture shopping center, the paper adds.
Newspaper source: Al Mal
-By Shereen El Gazzar, contributing to Dow Jones Newswires; +20124298286; Shereen.elgazzar@gmail.com
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01-12-09 0917GMT
