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المصدر
NBE joins $265m syndicate
The National Bank of Egypt has joined a financing consortium worth up to $265 million, led by the European Bank for Reconstruction and Development and including the International Finance Corporation and Emirates NBD, to fund the construction of a new hotel and the development of ADD Properties Group’s hospitality operations. The National Bank of Egypt will contribute $37.5 million. The plan includes a 400-room Grand Hyatt-branded hotel in western Cairo, near the Grand Egyptian Museum and the Giza Pyramids. The financing is expected to support tourism growth, expand hotel capacity, and strengthen the group’s environmental, social and governance practices.
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