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Daily News Egypt: EIB gives €740m loan to support Egypt’s economy

European Investment Bank is providing a €100m loan to the Qatar National Bank to support SMEs.
25.10.16 | Interesting article at Daily News Egypt

Prime Minister Sherif Ismail and Minister of International Cooperation Sahar Nasr met with European Investment Bank (EIB) vice president Dario Scannapieco to sign loan agreements worth €740m on Sunday.

A loan worth €75m was signed between Nasr and Scannapieco for 13 rolling stock trains for the second line of the metro.

With respect to the support of small- and medium-sized enterprises (SMEs), the EIB signed two loans with two banks in Egypt.

Scannapieco signed a loan worth €500m with the National Bank of Egypt (NBE), and another €100m loan with the Qatar National Bank (QNB).

The EIB signed another loan with the Export Development Bank of Egypt valued at €30m to promote Egyptian exports in different sectors.

An agreement was signed between the EID and the government to provide consultancy services for the Port of Safaga project that will be developed through a partnership between Egypt’s public and private sectors.