NBK Egypt Funds USD 115mn for Safaga Terminal project
Reinforcing its leadership in advancing Egypt’s sustainable economic development agenda, National Bank of Kuwait Egypt (NBK-Egypt) continues to strengthen its role as a leading financial partner in the financing of strategic national projects. In this context, the Bank has entered into a USD 115 million financing agreement in collaboration with the International Finance Corporation (IFC) to support the development of Noatum Ports Safaga Terminal in Egypt.
This financing aligns with the Bank’s commitment to supporting national projects that deliver sustainable long-term economic impact. These initiatives are instrumental in advancing logistics infrastructure, improving the efficiency of Egypt’s port network, and consolidating the country’s strategic position as a regional hub for global trade and supply chains.
This financing was supported by IFC, with participation from NBK – Egypt through a long-term syndicated loan with a tenor of up to 15 years. This reflects the confidence of international and regional financial institutions in the strength of the Egyptian economy, the quality of project execution, and their capacity to generate sustainable economic and developmental returns. It also underscores confidence in the operational capabilities of AD Ports Group and highlights Egypt’s strategic role within global trade and supply chain networks. The financing has secured all required approvals, and financial close is expected during the first quarter of 2026.
Egypt’s Economic Growth
Mr. Yasser El-Tayeb, Vice Chairman, CEO and Managing Director of NBK – Egypt, stated that the Bank’s participation in this significant financing reflects its strategic commitment to its role as an active development partner in supporting the national economy, emphasizing that financing major national projects represents a central pillar of the Bank’s strategic direction.
He added that port development and logistics infrastructure projects constitute a key driver of economic growth due to their direct impact on stimulating foreign trade activity, enhancing the competitiveness of the Egyptian economy, and creating sustainable employment opportunities. Ports in particular represent one of the most critical components of such projects, given their contribution to expanding external trade flows and supporting the state’s plans to maximize the benefits of Egypt’s unique geographic location as one of the most important logistics hubs along the Red Sea.
Moreover, El-Tayeb emphasized that long-tenor financing extended by the banking sector serves as a decisive catalyst in translating development strategies into operational projects with real economic impact, reflecting the approach embraced by leading international banking institutions in advancing national economic development.