Cairo: Emirates NBD-Egypt, a subsidiary of UAE-based Emirates NBD, inked a financing agreement with Arabian Construction Company (ACC), to grant EGP 2.50 billion in credit facilities.

This strategic partnership aims to bolster the company’s ongoing and future projects in Egypt as well as the GCC region, according to a press release.

The joint deal also aligns with the two parties’ commitment to drive economic growth and contribute to pivotal sectors encouraging Egypt's Vision 2030.

Amr El-Shafei, CEO and Managing Director of Emirates NBD Egypt, said: “Collaborating with a prominent player in the construction industry enables us to accelerate our expansion, diversify our portfolio, and enhance our ability to deliver innovative financial solutions."

Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, stated: “Our vision is centred around establishing long-term partnerships with industry leaders across key sectors enabling them to achieve their strategic objectives, besides providing credit facilities.”

Earlier this year, Emirates NBD-Egypt signed a medium-term loan deal worth EGP 400 million with Abu Dhabi Islamic Finance (ADIFinance).

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