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- Asian Infrastructure Investment Bank (AIIB) and the OPEC Fund for International Development (OPEC Fund) signed a loan facility agreement with Egypt’s National Bank of Egypt (NBE) in the United Arab Emirates
- AIIB and the OPE Fund for International Development (OPEC Fund) will provide US$200 million in funding to help NBE offer loans to the infrastructure sector to support Egypt’s efforts to enhance the growth of investments across various infrastructure sectors in the market.
Asian Infrastructure Investment Bank (AIIB) and the OPEC Fund for International Development (OPEC Fund) signed a loan facility agreement with Egypt’s National Bank of Egypt (NBE) in the United Arab Emirates.
AIIB and the OPEC Fund for International Development (OPEC Fund) will provide US$200 million in funding to help NBE offer loans to the infrastructure sector to support the Government of Egypt’s efforts to enhance the growth of investments across various infrastructure sectors in the market.
This is AIIB’s first non-regional syndication transaction in the financial institutions sector and NBE’s first on-lending project directed to the infrastructure sector. The bank will support NBE with its ongoing efforts to enhance its sustainability initiatives.
With the US$200 million in funding from AIIB and the OPEC Fund, NBE will be in a position to expand its existing funding to this crucial sector, hence improving services offered to Egyptian corporates and making a wider impact on the economy as a whole,” said Elsafty.
OPEC Fund Assistant Director General—Private Sector and Trade Finance and Operations Tareq Alnassar,, signed the agreement on behalf of the OPEC Fund in Abu Dhabi. The signing took place during AIIB’s Sixth Annual Meeting of the Board of Governors.
