Prime Minister Sherif Ismail and Minister of International Cooperation Sahar Nasr met with European Investment Bank (EIB) vice president Dario Scannapieco to sign loan agreements worth €740m on Sunday. A loan worth €75m was signed between Nasr and Scannapieco for 13 rolling stock trains for the second line of the metro. With respect to the support of small- and medium-sized enterprises (SMEs), the EIB signed two loans with two banks in Egypt. Scannapieco signed a loan worth €500m with the National Bank of Egypt (NBE), and another €100m loan with the Qatar National Bank (QNB). The EIB signed another loan with the Export Development Bank of Egypt valued at €30m to promote Egyptian exports in different sectors.

Source: Daily News Egypt October 23, 2016 20:03 UTC