Kharafi National signs EGP 750 mn syndicated loan with four Egyptian banks

Pan-Arabian infrastructure contractor Kharafi National has signed a syndicated loan agreement with four local banks led by SAIB Bank to arrange a EGP 750 mn facility, the bank said, according to a local press report. The consortium also includes the Export Development Bank Of Egypt, the Industrial Development Bank, and Al Baraka. The loan’s proceeds will be used to finance project Kharafi’s contracting work in Egypt.