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
-
IFC’s Kouassi Akon Calls for Shared Financing and Clearer Digital Regulation
17:54
-
Afreximbank Raises $528mln in Second Samurai Bond Issue
17:49
-
Ace Procurement Manager, Nchue Nghochuzeh Cletus, is New Country Head for ofi Cameroon
17:34
-
Kenya Targets 15,000 Jobs From Dual Highway Project
17:23
-
Lesotho Launches Digital Programme to Tackle Youth Unemployment
17:18
-
Safaricom Seeks $309mln Through New Bond Program
17:12
-
NBA Africa Picks Ten Startups From Five Countries for Triple-Double Program
15:59
-
Bolt Hits 400 Million Rides in South Africa
15:48
-
Togo’s Tchaoudjo 1 Sets 2035 Goal to Recycle Up to 60% of Local Waste
15:28
-
Kenya: iFunza Connects Teachers and Parents to Track Student Progress
15:02
Vodacom Tanzania launches M-Pesa Global Payments, enabling seamless international transactions thr...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $...
Anthropic, Rwanda’s government, and ALX launched Chidi, an AI mentor built on Claude. It wi...
Kossi Ténou succeeds Badanam Patoki as president of the AMF-UMOA. Ténou brings over 20 years of e...
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing...
As West and Central African governments push to accelerate their digital transformation, the question of how to finance the necessary infrastructure has...
Bank secures 81.8 billion yen from regular and retail samurai bonds Over 100 Japanese investors participate amid strong demand for short...
The government values the Nairobi–Mau Summit and Nairobi–Maai Mahiu–Naivasha highway projects at $1.54 billion. President William Ruto says...
The government will apply a 15% tax on all payments to foreign digital platforms starting Jan. 1, 2026. The measure targets major platforms such...
Niokolo-Koba National Park, designated both a Biosphere Reserve and a UNESCO World Heritage Site, is one of the ecological treasures of Senegal and all of...
Hidden deep within the Arabuko-Sokoke Forest on Kenya’s coast near Malindi, the ancient city of Gedi stands as one of East Africa’s most intriguing...