National Bank of Egypt grants $90.1 million facility to a local contractor

The National Bank of Egypt, the country’s biggest state lender, has approved granting credit facilities worth 800 million Egyptian pounds ($90.1 million) for a local contractor company.

The credit facility aims to finance some of the company’s businesses, Yehia Aboul Fotouh, Vice Chairman of NBE, said on Saturday.

NBE has raised its finances for Egypt’s construction contractor sector twice from 20 billion pounds to 30 billion pounds and most recently to 40 billion pounds.