Banque Misr planning to sign USD500mn with EIB this week
Banque Misr is planning to sign a USD500mn loan agreement with the European Investment Bank (EIB) during the “Business for Africa, Egypt and the World” forum in Sharm El Sheikh, which is scheduled to take place on 7-9 Dec, according to Banque Misr’s Vice President Akef El Maghraby. The loan will be used to expand SME financing and will be repaid over three years. El Maghraby added that the bank is planning to borrow a further USD500-750mn in the coming period.
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