The New Urban Communities Authority (NUCA) is set to sign a EGP 20 bn syndicated loan agreement with local banks to fund part of the EGP 27 bn-worth of planned infrastructure projects it’s working on in new cities, banking sources told Al Shorouk. NUCA will also convert EGP 10 bn-worth of land sale receivables into securitized bonds to cover the remaining amount needed to finance the projects.

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