A coalition of banks led by the National Bank of Egypt (NBE) is offering Egypt’s state-run Egyptian Electricity Transmission Company (EETC) financing worth EGP7b ($894m) to be repaid over 15 years, Amwal Al Ghad reports.  The offer was submitted by the banks to the EETC last week and is tailored to fit the diversified and unique needs of the EETC.

National Bank of Egypt Vice President, Mahmoud Montasser, has also said recently that NBE has provided loans worth EGP12.6b for the country’s electricity sector over the past five years. The bank has been the sole financier of electricity projects in Abu Qir and Benha worth around EGP2.4b and has supported electricity transmission networks and maintenance work for EETC stations.