|
$70 Million a loan for banks Misr from Citibank
Egypt, Business, 2/23/1999
Citibank presented a loan for Banque Misr worth $70 million to finance investment projects undertaken by Banque Misr that need foreign currencies.
Esam El- Ahmadi, head of the bank, told ArabicNews.com today that the bank's board of directors is studying this offer, adding that negotiations are currently underway to determine the final value of the loan and the terms to repay it.
He added there is no fluidly at the bank in foreign currency for the long-term, but there are short-term resources in the form of deposits whose owners could withdraw them at any time.
El-Ahmadi expected approval of the loan after studying periods of payment and conditions for benefiting from the loan.
Three Egyptian banks obtained external loans worth 390 million dollar during 1996 till 1998 - these banks are the Commercial International Bank (C.I.B), the Egyptian American Bank (E.A.B) and the Egyptian Bank for Developing Exports.
Previous Stories:
Investment opportunities worth $200 million in Algeria
(2/22/1999)
Maltese commercial delegation to visit Cairo
(2/18/1999)
Egyptian national bank to open branch in Mexico
(2/11/1999)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
