{"id":616936,"date":"2024-03-13T00:00:00","date_gmt":"2024-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/green-hurghada-project-secures-usd-3-mn-in-funding-plus-news-from-nbe-fabmisr-elsewedy-electric\/"},"modified":"2024-03-13T00:00:00","modified_gmt":"2024-03-13T00:00:00","slug":"green-hurghada-project-secures-usd-3-mn-in-funding-plus-news-from-nbe-fabmisr-elsewedy-electric","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/green-hurghada-project-secures-usd-3-mn-in-funding-plus-news-from-nbe-fabmisr-elsewedy-electric\/","title":{"rendered":"Green Hurghada project secures USD 3 mn in funding. PLUS: News from NBE, FABMisr, Elsewedy Electric"},"content":{"rendered":"

\n

CLIMATE FINANCE-<\/p>\n

Green Hurghada secures GEF funding:<\/strong> Multilateral environmental fund Global Environment Facility (GEF) will invest over USD 3 mn<\/a> into the Green Hurghada project being carried out by the United Nations Industrial Development Organization and the Environmental Affairs Agency. <\/p>\n

About the project: <\/strong>It aims to reduce the city\u2019s emissions and integrate biodiversity considerations into the city\u2019s infrastructure development.<\/p>\n

\n

M&A-<\/p>\n

Major real estate investment on the cards for NBE? <\/strong>The National Bank of Egypt (NBE) is considering investing over EGP 2.5 bn to acquire at least 20% of an unnamed major real estate firm, sources with knowledge of the matter told Al Mal. The bank is constantly studying additional investments in various sectors with an eye on those that prioritize exports and local industry.<\/p>\n

\n

FINANCE-<\/p>\n

FABMisr to offer Drive Finance customers payment solutions:<\/strong> GB Corp\u2019s car finance arm Drive Finance will integrate FABMisr\u2019s online payment gateway Access by FABMisr<\/a> into its website and application, under a strategic partnership inked between the two sides, FABMisr said in a press release (<\/a>pdf<\/a>)<\/a>. The partnership will offer Drive Finance customers payment solutions and allow them to make payments via Drive Finance\u2019s website, app, or social media platforms.<\/p>\n

FABMisr likes consumer financing:<\/strong> The bank\u2019s CEO Mohamed Abbas Fayed recently told<\/a>local media<\/a> that it is planning to launch a consumer finance company this year.<\/p>\n

\n

MANUFACTURING-<\/p>\n

Elsewedy Electric to set up USD <\/strong>50<\/strong> mn Saudi factory?<\/strong> Elsewedy Electric subsidiary Elsewedy Electric for Electrical Products wants to establish a USD 50 mn power transformers factory in Saudi Arabia in partnership with an unnamed Saudi partner, CEO Ashraf Elassal told Al Mal. <\/p>\n","protected":false},"excerpt":{"rendered":"

The project is being carried out by the United Nations Industrial Development Organization and the Environmental Affairs Agency<\/p>\n","protected":false},"author":1,"featured_media":616937,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,7286,101,152,72,453,2038,505],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-616936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-climate","tag-development-finance","tag-elsewedy-electric","tag-enterpriseam","tag-environment-ministry","tag-fabmisr","tag-hurghada","wpautop","entry"],"acf":{"mongo_id":"7a56ca8a-efd5-40af-a3b4-8252961492bf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1065.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Green Hurghada project secures USD 3 mn in funding","related_issue":[616916],"teaser":"The project is being carried out by the United Nations Industrial Development Organization and the Environmental Affairs Agency","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.7e64ee91-32d6-4635-94ea-ccbd69db9fec.mp3"},"yoast_head":"\nGreen Hurghada project secures USD 3 mn in funding. 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The contract will see the latter construct a 66\/22-kilovolt (kV) substation that will power the part\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574887,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/italian-bank-seeks-govt-guarantee-for-railway-loan\/","url_meta":{"origin":616936,"position":2},"title":"Italian bank seeks gov\u2019t guarantee for railway loan","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"An unnamed Italian bank has requested that the oil or transport ministry issue a letter of guarantee for a potential USD 300 mn loan for a consortium working on the Abu Tartour-Qena freight railway line, Al Mal reports, citing unnamed sources in the know. The cabinet will look into the\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638632,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/10\/jica-approved-usd-60-mn-to-fund-solar-power-plant-in-hurghada\/","url_meta":{"origin":616936,"position":3},"title":"JICA approved USD 60 mn to fund solar power plant in Hurghada","author":"enterpriseam admin","date":"10 October 2017","format":false,"excerpt":"The Japan International Cooperation Agency (JICA) approved disbursing USD 60 mn in funding to develop a solar power plant in Hurghada, said Mohamed El Khayat, head of the New and Renewable Energy Authority. The project, which had been in limbo for the past two years, will be put up for\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561266,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/also-on-our-radar-on-31-march-2021\/","url_meta":{"origin":616936,"position":4},"title":"Also on our Radar on 31 March 2021","author":"enterpriseam admin","date":"31 March 2021","format":false,"excerpt":"Egypt-Sudan electricity link gets a boost: Siemens Energy was awarded a contract to build two grid stabilization stations in Sudan that will help feed cross-border electric power to Egypt as part of the Egypt-Sudan Electric Interconnection Project. The stations come as Egypt has agreed to invest EGP 450 mn in\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558631,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/elsewedys-united-metals-secures-usd-25-mn-in-funding-from-ebrd\/","url_meta":{"origin":616936,"position":5},"title":"ElSewedy\u2019s United Metals secures USD 25 mn in funding from EBRD","author":"enterpriseam admin","date":"19 August 2021","format":false,"excerpt":"ElSewedy\u2019s United Metals Company subsidiary lands USD 25 mn loan from EBRD: The European Bank for Reconstruction and Development (EBRD) has agreed to provide to ElSewedy\u2019s subsidiary United Metals Company (UMC) a two-year, USD 25 mn facility to finance the company\u2019s working capital needs and provide funding to source raw\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/616936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=616936"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/616936\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/616916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/616937"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=616936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=616936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=616936"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=616936"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=616936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}