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| 15 November, 2017

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

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

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

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.

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


© Amwal Alghad 2017