The Asian Infrastructure Investment Bank (AIIB) has completed a loan transaction with Egypt’s largest commercial bank, National Bank of Egypt (NBE), which will help NBE offer loans to the infrastructure sector.
AIIB and the OPEC Fund for International Development provided $200 million in funding for NBE. The loans will support the Government of Egypt’s efforts to enhance the growth of investments across various infrastructure sectors in the market. AIIB said it will also support NBE with ongoing efforts to enhance its sustainability initiatives.
“This is AIIB’s first engagement with an Egyptian bank, and the project will help NBE diversify its funding sources for lending to the infrastructure sector,” said Konstantin Limitovskiy, vice president, investment operations (Region 2) at AIIB.
