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Banking consortium brings European education to Egypt

The project will cost more than EGP 900 mln and will establish branches of universities such as University of London and Central Lancashire to Egypt.
University of London © Wikimedia commons

A consortium of banks led by the National Bank of Egypt announced they will be financing a project to create branches of European Universities in Egypt.

The banks including NBE, Industrial Development Bank of Egypt (IDB) and Egyptian Arab Land Bank (EALB) will finance the project that will cost more than 900 million Egyptian pounds. NBE will contribute the biggest share of more than 400 million Egyptian pounds, while the other banks will pay 200 and 300 million Egyptian pounds.

The 3 banks announced that the project aligns with their shared policy of supporting vital sectors like the educational sector in the road to achieving comprehensive development by supporting scientific research and education in Egypt.

The agreement includes universities like University of London and University of Central Lancashire who will offer a wide range of educational programs and disciplines. The University of London will offer more than 12 courses including political science, economics and international development and relations.