“Finance”: Starting to arrange the first financing facilities in the amount of two billion dollars

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The Egyptian government announced the start of the provision of the first traditional term financing facilities, according to the joint green and Islamic financing framework, with a value of two billion dollars.

The Ministry of Finance said, in a statement today, that Emirates NBD Capital Limited and First Abu Dhabi Bank have been selected as joint global coordinators, authorized lead arrangers and bookrunners for this joint financing facility.

She added that the maturity of the joint financing facilities extends for three years, and the green projects that will be financed or refinanced will be determined according to the green financing framework that came into effect in September 2020, and the Islamic financing tranche will be used to finance the public budget deficit.

She explained that this comes within the framework of the government’s keenness to diversify sources of funding, and to go to different markets to meet the necessary needs of the state’s public treasury.

Egypt had succeeded in repaying the facility, which it had previously obtained for a year, at a value of $2 billion.

Source: asha a

The article “Finance”: The start of the first financing facilities, amounting to two billion dollars, was written in Al Borsa newspaper.