Emirates NBD-Egypt has signed a EUR 30 million medium-term loan deal with Hayat Egypt for Hygienic Products.
The loan provided by Emirates NBD-Egypt is aimed solely at financing this ambitious project, which will strengthen Hayat Egypt’s position as a leading player in the industry.
The loan agreement aligns with Emirates NBD-Egypt’s growth strategy to increase its market share in Egypt’s banking sector, establish a stronger presence in the Egyptian market, capture a larger portion of the lending business and expand operations and customer base in key markets.
“This loan contract not only holds strategic importance for Emirates NBD-Egypt but also emphasises our commitment towards supporting economic development and sustainability in Egypt. Through providing financing for hygienic product manufacturers and supporting the expansion of local manufacturing capabilities, we actively contribute to the growth and advancement of the Egyptian economy,” said Amr El Shafei, the Managing Director and CEO of Emirates NBD-Egypt.
El Shafei said the financing deal aligns with the bank’s strategy of supporting sustainable development and making positive contributions to supporting Egypt Vision 2030.
Hayat Egypt, as part of its expansion plans, is set to launch a state-of-the-art tissue plant in Ain Sokhna, with an estimated investment of $70 million.
The global FMCG firm’s plan to grow as an export hub receives a boost through this partnership with Emirates NBD-Egypt. This investment not only enhances Hayat Egypt’s financing base but also creates a local partnership in a challenging financial market.
The new tissue plant is expected to contribute approximately $80 million to the country’s exports and create 80 new direct employment opportunities.
Emirates NBD focuses on financing projects that promote sustainability. By partnering with Hayat Egypt and providing loans for initiatives that encourage local production and expand export opportunities for Egypt, Emirates NBD-Egypt demonstrates its commitment to environmentally friendly and socially responsible practices, ensuring long-term economic and environmental sustainability.
The partnership between Emirates NBD-Egypt and Hayat Egypt ushers in exciting business opportunities. Emirates NBD-Egypt anticipates upgrading the synergy between both organisations and capitalising on the endless possibilities that lie ahead, achieving mutual prosperity and contributing to the development of the Egyptian market.
