November 4, 2020

HSBC Egypt commits $2.2B loan for NAC’s project


ArabFinance: HSBC Egypt provided long-term funding worth $2.2 billion (EGP 34.62 billion) to China State Construction Engineering Corporation to finance the construction of the Central Business District project in the New Administrative Capital (NAC), according to Future Cities report.

The 13.5-year facility is covered by China Export and Credit Insurance Corporation (Sinosure), HSBC added.

The development comprises 18 towers that include administrative offices, hotels, and entertainment facilities, in addition to the tallest tower in Africa, according to HSBC.

arabfinance


Categories : banking

Finance & Economy

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