The National Bank of Egypt (NBE) is leading a EGP 7.5 bn syndicated loan to finance the building of a new shipping container terminal at Abu Qir port, Al Mal, citing anonymous sources. The state-owned bank will act as the lead arranger for the loan, with a syndicate of banks that is expected to include the Bank of Alexandria, Suez Canal Bank, and the Export Development Bank of Egypt. Contracts are expected to be signed by the end of 1Q2021, sources said. The same syndicate of banks had granted an EGP 3.8 bn loan earlier this month to Gharably Integrated Engineering Company for the upgrade of the Abu Qir port.

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