Social Housing Fund in talks over EGP20 billion loan from banks
The Social Housing Fund is in talks with a consortium of four banks, namely: National Bank of Egypt (NBE), Banque Misr, Banque du Caire, and Housing & Development Bank (HDBK) for EGP20 billion loan to fund the construction of 400,000 units in FY2016/17. The loan will likely be repaid over five years. EGP3 billion will be used to repay a bridge loan raised earlier this year from the four banks. (Al Mal)
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