2 banking consortia compete for EGP 10B loan to HCWW

Updated 10/22/2023 12:57:00 PM
2 banking consortia compete for EGP 10B loan to HCWW

Arab Finance: Two banking consortia, one made up of state banks and the other of private ones, are competing to offer an EGP 10 billion loan to the Egyptian Holding Company for Water and Waste Water (HCWW), two sources familiar with the matter told Asharq Business on October 22nd.

The first consortium comprises the National Bank of Egypt (NBE), Banque de Caire, and Banques Misr, while the other is made up of QNB Alahli and the National Bank of Kuwait–Egypt (NBK Egypt), one source noted.

The winning consortium will be announced within a month, the source added.

The loan aims to settle the company’s outstanding liabilities owed to the Ministries of Electricity and Petroleum, in addition to revamping related sanitation projects, the second source said.

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