ArabFinance: The National Bank of Kuwait-Egypt (NBK-Egypt) (NBKE) announced that it has signed an EGP 850 million financing deal with Madkour for Projects Company replacing and upgrading medium and low voltage electricity networks in some villages of Markaz Esna and Markaz Armant in Luxor Governorate, the bank said in a statement.

The deal was signed by the Head of Business Group at NBK-Egypt, Amr El-Alfy, and the Chairman of Madkour for Projects Company, Mostafa Madkour.

El-Alfy noted that the bank has been adopting a clear strategy to support and finance mega and infrastructure projects that help the country in its plans to achieve progress for all Egyptians as part of the presidential initiative of Haya Karima (A Decent Life).

Madkour pointed out that his company has executed more than 50 mega projects over the last five years.

NBK Egypt, formerly Al Watany Bank of Egypt SAE, is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services.

The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.