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Why investors are turning their gaze to Latin America after Trump tariffs
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The European Bank for Reconstruction and Development (EBRD) has agreed to extend up to $100mn in senior unsecured loan to National Bank of Egypt (NBE). The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies across the industrial, commercial, transport and agricultural sectors by local private sector small and medium enterprises (SMEs). The project offers a combination of longer-term financing and technical expertise into a package that promotes targeted investment in sustainable energy and climate change mitigation within Egypt’s highly diversified private sector.
NBE is the largest commercial bank in Egypt, fully owned by the Egyptian government. With total assets of €107bn ($129bn) as at end-June 2020, NBE has a market share of 31% by assets, 33% by loans and 34% by deposits.
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