Spinning and Weaving Holding co. set to receive EUR 540 mn loan this month

State-owned Holding Company for Spinning and Weaving is expected to receive by the end of this month a EUR 540 mn loan that the National Bank of Egypt arranged earlier this year from two unnamed Italian and Swiss banks, Public Enterprises Minister Hisham Tawfik said, according to Masrawy. The loan will be used to import new machinery, and will be guaranteed by Italy’s export credit agency SACE, Switzerland’s Export Risk Insurance SERV, and the Egyptian Finance Ministry.