El Husseiny Hassan

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IFC does not yet wish to sell its stake in AlexBank

International Finance Corporation (IFC), the World Bank Group’s investment arm, has shown no interest in selling its 9.25% stake in the Bank of Alexandria (AlexBank), a member of the Intesa Sanpaolo Group, up until now. Walid Labadi, IFC country manager for Egypt, Libya, and Yemen, said that the IFC will announce its intention to sell …

El Husseiny Hassan

AfDB considers financing three solar energy projects in Egypt for $60m

The African Development Bank (AfDB) is considering financing three projects within the feed-in tariff programme in Benban, Aswan for $60m. A source at AfDB told Daily News Egypt that the bank has allocated $18m and $20m worth of finances for each project in the electricity production plant that depends on solar power. The source said …

El Husseiny Hassan

Afreximbank signs loan to Banque Misr worth $200m next week

The African Export-Import Bank’s (Afreximbank) board of directors approved granting a loan to Banque Misr worth $200m. Banque Misr is the second government bank to receive a loan from Afreximbank this year. The National Bank of Egypt (NBE) announced receiving $300m from Afreximbank in April. Akef El Maghraby, vice chairperson of Banque Misr, told Daily …

El Husseiny Hassan

EBRD is studying financing five feed-in tariff projects in its 2nd phase

Janet Heckman, managing director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development (EBRD), said that the bank is currently studying to finance five projects in the second phase of the feed-in tariff projects starting from the second half of this year. Heckman told Daily News Egypt that …

El Husseiny Hassan

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