Arab Finance: The European Bank for Reconstruction and Development (EBRD) has disbursed a four-year loan of $22.6 million to support the capital increase of Hassan Allam Construction (HAC), a subsidiary of Hassan Allam Holding, as per an announcement.
The funding aims to provide the company with long-term working capital and help it deliver on its backlog of projects.
Moreover, the loan will assist HAC in raising the share of its female workforce to 11% in the coming four years.
It will also help the company develop and execute a gender inclusion diagnostic and action plan.