The National Bank of Egypt signed an additional EGP 2 billion transit loan contract for the Canal Sugar Company, which is owned by a controlling percentage of the UAE Al Ghurair Company.
According to Amwal Al Ghad, the loan aims to contribute to the inauguration of the largest beet sugar factory in the world with a production capacity of 900 thousand tons in Minya.
The Qatar National National Bank and the Egyptian Agricultural Bank participated in the loan.
On the other hand, banking sources said that the National Bank of Egypt and Egypt are forming and managing a coalition of local banks to secure funds worth 20 billion pounds to establish 15 universities, meaning that the share of One university is not less than one billion pounds, with the cost of its establishment ranging between 1.5 and 2 billion pounds, according to the area and the number of faculties, according to “Al-Shorouk” newspaper.
In a related context, according to the Egyptian newspaper Al-Shorouk, Youssef Salem, the financial and administrative director of Swvl, which specializes in providing mass transportation solutions, revealed that there are negotiations with 5 major banks. governmental and private, to provide car installment solutions for drivers, at the end of the year, with an annual interest rate of 6%, after contracting with Nasser Social Bank to provide car financing loans recently.
