Egypt signs $2bn conventional, Islamic facility to finance budget deficit
Published 31 Aug,2020 via Daily News Egypt - Egypt’s Ministry of Finance has signed the first conventional and Islamic financing facility, worth $2bn, to finance state’s budget deficit and support local economy.
The country’s House of Representatives had previously approved the facility.
According to a Ministry of Finance statement, on Monday, the facility was closed by Emirates NBD Capital Limited, the investment-banking arm of Emirates NBD, and First Abu Dhabi Bank (FAB) as the transaction’s global coordinators, mandated lead arrangers, and book runners.
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