NBE lends EGP 9 m to 3 insolvent factories in Beni Suef

National Bank of Egypt received three loans applications from 3 insolvent factories in Beni Suef to lend them EGP 9 million needed to turn the production wheel in their units.

Mohsen El-Gebaly, chairman of Beni Suef investors association, said that NBE approved initially the loan to the factories, which working in food industries, but remains the required procedures that guarantee NBE’s rights.

It is worth mentioning that Beni Suef investors association set an agreement with NBE to lend EGP 40 million to 8 insolvent factories in Beni Suef, in the meeting held at the end of last year discussing the possible ways to re-operate these factories.

Mahmoud Hemdan