SAIB-led consortium inks $76mln loan agreement for Al-Kharafi Construction

The consortium comprises five banks

  

ArabFinance: A banking consortium, led by Societe Arabe Internationale de Banque (SAIB), has signed a medium-term syndicated loan agreement worth EGP 1.2 billion in favour of Al-Kharafi National for Infrastructure Projects Developments – Construction and Services, Hapi Journal reported.

The consortium comprises five banks, including Export Development Bank of Egypt (EDBE), Arab Investment Bank, Industrial Development Bank (IDB), Al Baraka Bank Egypt (SAUD)

SAIB acts as the main arranger and finance and guarantee agent of the loan.

Proceeds of the loan will be used in financing the contracting works assigned to Al-Kharafi National for Infrastructure Projects Developments to develop the infrastructure projects under the presidential initiative to provide a decent life.

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