Arab Finance: QNB Egypt signed a medium-term syndicated loan worth EGP 11.98 billion for Kased Khair to finance an infrastructure development project at East Port Said Port, as per an emailed press release.

Leading a banking consortium comprising 12 banks, QNB Egypt acted as the initial lead arranger, financing agent, security agent, and account bank for the facility. 

The consortium includes Banque Misr, National Bank of Egypt (NBE), Banque du Caire, Arab African International Bank (AAIB), Bank of Alexandria, and National Bank of Kuwait – Egypt as initial lead arrangers and bookrunners. Kuwait Finance House – Egypt, Al Baraka Bank Egypt, and MIDBANK participated as lead arrangers, while Next Bank and Industrial Development Bank acted as arrangers.

The financing will support the construction and development of new marine berths at East Port Said Port totaling 6,050 meters in length and with a draft of 22 meters, aiming to improve the port’s operational efficiency and strengthen its regional and international competitiveness.

The financing comes as part of QNB Egypt’s strategy to support major projects and sustainable development initiatives in line with the objectives of QNB Group.

The project is expected to support the development of Egypt’s maritime transport and infrastructure sector, reinforcing the country’s position as a regional trade and logistics hub while supporting investment attraction and economic growth.

The deal also reflects cooperation between banking institutions in providing financing for large-scale projects, alongside QNB Egypt’s experience in structuring and managing syndicated loans.