RIYADH: Egypt secured a $3 billion loan arranged jointly by a group of Gulf banks, to be divided equally between green and Islamic financing for a period of 3 years.

The financing, which closed last month, saw a return of 260 basis points above the LIBOR rate, Alarabiya reported citing banking sources.

The banks that arranged the loan included Emirates NBD and First Abu Dhabi Bank, who were the main coordinators for the financing, the sources added.

Other banks participating in the financing arrangement included Abu Dhabi Islamic Bank, Al Ahli Bank of Kuwait, Arab Banking Corporation, Standard Chartered, National Bank of Kuwait and Warba Bank.


Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.