By: Islam Fadl

Cairo – Mubasher: The National Bank of Egypt has sent a memorandum of provisions to a number of local lenders to arrange an EGP 3.2 billion loan for Samcrete Egypt Engineers and Contractors.

The banks include Banque Misr, Banque du Caire, Emirates NBD, and the Industrial Development Authority, sources told Mubasher.

NBE, Egypt's largest state-owned bank, will cover EGP 1.2 billion of the loan, while the other lenders will arrange the remaining sum of EGP 2 billion, sources indicated.

They pointed out that the banks will determine their decision within weeks.

Translated by: Mai Ezz El-Din