Egyptian government finalizes $2bln syndicated bank loan: Maait

The facility will reportedly be divided into a $1bln Islamic financing tranche and a $1bln ESG tranche

  
An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

ArabFinance: The Egyptian government has finalized a $2 billion syndicated bank loan that it pending for the approval of the House of Representatives, Finance Minister Mohamed Maait told CNBC Arabia.

Earlier, the government held talks with 10 international banks to secure the loan.

The facility will reportedly be divided into a $1 billion Islamic financing tranche and a $1 billion ESG tranche set to target green projects under the Finance Ministry’s green financing framework.

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