State banks are considering issuing letters of guarantee for Dabaa nuclear project

The Nuclear Power Plant Authority (NPPA) is negotiating with local banks for letters of guarantee worth USD 300-400 mn to cover its loans for the Dabaa nuclear project, unidentified sources tell Al Shorouk. Banque Misr and the National Bank of Egypt had agreed last December to provide USD 580 mn in trade finance facilities to the NPPA for the implementation of the Dabaa project.