The National Bank of Egypt (NBE), Banque Misr, Banque Du Caire and Faisal Islamic Bank of Egypt have signed the terms sheet of the EGP 1.1 billion loan arranged for the Egyptian Ethylene and Derivatives Company (Ethydco). The loan, divided into a local-currency segment of EGP 900 million and a foreign-currency segment of US$ 25 million, will be used to finance the construction of a 70-MW electrical power plant.
Amwal Al Ghad reports exclusively the value of the banks’ contributions to the loan as follows: NBE (EGP 350 million), Banque Misr (EGP 300 million), Banque Du Caire (EGP 250 million) and Faisal Islamic Bank of Egypt (US$ 25 million).
NBE had earlier raised the value of the loan from EGP 800 million to EGP 1.1 billion because of the increase in the value of dollar and thereby the costs of the project.
The Values of the banks’ contributions to the loan are as follows:
|
Bank |
Contribution Value |
|
National Bank of Egypt |
EGP 350 million |
|
Banque Misr |
EGP 300 million |
|
Banque Du Caire |
EGP 250 million |
|
Faisal Islamic Bank of Egypt |
US$ 25 million |
