A banking consortium of six banks have offered to loan the Egyptian General Petroleum Corporation (EGPC) EGP 10 billion to import oil and to settle part of its debts to the Ministry of Electricity.

The Egyptian General Petroleum Corporation (EGPC) has signed the final contract for a $1 billion loan with a consortium consisting of 13 international and Arab financial institutions.

HSBC-led consortium of international and Gulf banks will provide a $1 billion loan for Petroleum Export Limited, which is a subsidiary of the Egyptian General Petroleum Corporation (EGPC).