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EBRD awards Emirates NBD Egypt $40m loan to enhance trade

EBRD awards Emirates NBD Egypt $40m loan to enhance trade
EBRD awards Emirates NBD Egypt $40m loan to enhance trade
Emirates NBD
EMIRATESNBD
0.87% 17.45 0.15

Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Tuesday handed over a $40 million loan to Emirates NBD - Egypt, aiming to support importers and exporters under EBRD’s trade facilitation programme (TFP). 

“Through the facility, the EBRD provides guarantees in favour of international commercial banks, covering the commercial payment risk of the transactions undertaken by Emirates NBD Egypt,” the EBRD said in its statement.

“The Trade Facility Programme further enriches our partnership with the EBRD which dates back to February 2017 with our flagship agreement – the pioneering US$ 125 million subordinated loan,” Giel-Jan M. Van Der Tol, Emirates NBD Egypt’s CEO said.

The TFP includes more than 100 partner banks in 28 countries where EBRD invests at a value of EUR 15 billion.