Egypt's QNB Alahli gets $100mln senior loans to finance needy businesses
Wednesday, 13 May 2020 14:14
Egypt's Qatar National Bank (QNB) Alahli will receive a senior loan of $100 million that will be used to provide short-term financing to companies that are experiencing a decline in business and profitability.
Details regarding the maturity and interest rate associated with this credit line have not been disclosed. Moreover, the eligibility criteria for companies, to this financing, are still unknown.
The European Bank for Reconstruction and Development (EBRD), which is at the initiative of this financing, could supplement this amount to $250 million to finance companies engaged in import-export operations.
QNB Alahli which is a subsidiary of the Qatari banking group Qatar National Bank is concluding its second loan agreement for the year 2020. The institution listed on the Egyptian Exchange had benefited in February from a loan of $82 million intended to support companies that implement projects related to the preservation of the environment.
The first financing agreements between the EBRD and its Egyptian client QNB Alahli dates from 2015.
Chamberline Moko
Live News
-
Mission 300 to Require About $46 Billion for Mini-Grid Rollout in Africa by 2030
19:17
-
Kenya Turns to European Union to Strengthen Cybersecurity
19:08
-
Saudi Arabia’s Zahid Group Buys South Africa’s Barloworld for $1.4 Billion
19:02
-
Tanzania Targets June Deal to Restart $42 Billion LNG Project
18:49
-
Togo steps up dialogue with businesses to restore trust in tax system
17:52
-
Sunday Paul Adah Scales Fintech Platform for Global Education Costs
15:05
-
Steve Nganga Connects Kenyans to Reliable Local Services Through Balozy
15:02
-
Togo Swears In Transport Minister Kadje, Maritime Deputy Tengue
14:27
-
Togo secures 400 million CFA francs from ECOWAS for refugee support
14:20
-
Entrepreneurs Called to Join KAIZEN Training Programme Targeting Efficiency in Cameroon’s Growing SME Sector
14:17
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Circular migration is based on structured, value-added mobility between countries of origin and host...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
Africa’s trade deficit with China widened 64.5% to $102 billion in 2025 Chinese exports ...
Africa will require about $46 billion by 2030 to deploy mini-grids under the Mission 300 initiative led by the World Bank and the African...
The European Union finances the Kenya Cyber Resilience (KCR) project with 454 million Kenyan shillings ($3.5 million). Kenya detected 12.5 billion...
Tanzania plans to sign the legal framework for the $42 billion Tanzania LNG project before June 2026. The project targets development of more...
Extractive sector surged 50.9%; manufacturing grew 3.5% on food, fuel gains Cumulative industrial activity up 11.7% by end-September 2025 Industrial...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...