The National Bank of Egypt (NBE) will be the principal coordinator and underwriter in financing loans under the PPP program, after it signed an agreement with the finance ministry, reported Al-Shorouk newspaper.
The PPP law was recently approved passed by Parliament, Al-Shorouk reported, citing unidentified banking sources.
In its daily market report, Beltone Financial reported that the agreement does not rule out the participation of other banks in financing PPP projects, however, but in the case of a shortfall in financing by other banks, NBE will act as the underwriter of the required financing.
The first phase of the projects that will be executed under the new law will need financing of around LE 15 billion, LE 8 billion of which will finance waste water projects, hospitals and schools.
The government has a list of PPP projects which it is promoting to the private sector, both local and foreign, worth LE 80 billion, targeting infrastructure projects.
