The Emirates NBD Egypt bank is preparing a loan of LE711 million for the development of Cairo International Airport, which amounts to 30 percent of the total development cost of LE3 billion.
Managing Director Giel-Jan Van der Tol said the loan will help boost tourism, which accounts for an important part of the Egyptian national economy.
“We diversify our investment portfolio to cover various sectors,” he said, expressing confidence in the economy's ability to achieve high growth rates in the next few years.
Hassan Ghanem, head of the corporate banking department, also said the loan promotes tourism, which is a major source of foreign currency.
Edited translation from Al-Masry Al-Youm
