Egypt completes a $3bn loan for green and Islamic financing
- The banks that arranged the loan included Emirates NBD and First Abu Dhabi Bank
RIYADH: Egypt secured a $3 billion loan arranged jointly by a group of Gulf banks, to be divided equally between green and Islamic financing for a period of 3 years.
The financing, which closed last month, saw a return of 260 basis points above the LIBOR rate, Alarabiya reported citing banking sources.
The banks that arranged the loan included Emirates NBD and First Abu Dhabi Bank, who were the main coordinators for the financing, the sources added.
Other banks participating in the financing arrangement included Abu Dhabi Islamic Bank, Al Ahli Bank of Kuwait, Arab Banking Corporation, Standard Chartered, National Bank of Kuwait and Warba Bank.
