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In a new step reflecting the growing role of the Industrial Development Bank (IDB) as an active financing partner in supporting strategic and development projects, the Industrial Development Bank (IDB) participated in a major banking consortium led by QNB Alahli, comprising a number of banks operating in the Egyptian market, to arrange a medium-term syndicated loan with a total value of EGP 11.98 billion, in favor of Qased Kheir for General Supplies and Contracting, to finance a strategic project for the development of infrastructure at East Port Said Port.

The agreement was signed by Ms. / Mennan AwadAllah – Deputy Chief Executive Officer and Managing Director – reaffirming the Bank’s commitment to supporting national and strategic projects with economic and developmental impact, and strengthening its role as an influential banking partner in supporting the state’s development plans.

The signing was attended by:

• Ms. / Samar Abdel Khaleq – Chief Executive Officer of Large Corporate Credit, Syndicated Loans and Investment Sector
• Mr. / Hany El-Etriby – General Manager of Large Corporate Credit and Syndicated Loans Sector
• Mr. / Tamer Soliman – Deputy General Manager of Large Corporate Credit and Syndicated Loans Sector
• Mr. / Islam El-Sayed – Head of Large Corporate Credit and Syndicated Loans Department

This financing comes within the framework of supporting the state’s plans to enhance infrastructure in the maritime transport and ports sector, contributing to improving the efficiency of Egyptian ports, increasing their competitiveness, and strengthening Egypt’s position as a regional hub for trade and logistics services.

In this context, Mr. Hussein Refaie, Chief Executive Officer and Managing Director of the Industrial Development Bank (IDB), stated that the Bank’s participation in this consortium in favor of Qased Kheir for General Supplies and Contracting, to finance a strategic project for the development of infrastructure at East Port Said Port, reflects its role as an active financing partner in supporting major national projects, particularly in the infrastructure and ports sector, which is considered one of the most important drivers of economic growth in Egypt.

He emphasized that this participation aligns with the Bank’s strategy to enhance its role in financing projects with developmental impact, supporting supply chains and foreign trade, and contributing to providing integrated financing solutions that help drive sustainable development.

He also noted that major banking syndications represent an effective model for mobilizing financial resources and directing them toward strategic projects with high economic and developmental returns, thereby enhancing the efficiency of the banking sector and its role in supporting the national economy.

For her part, Ms. Mennan AwadAllah – Deputy Chief Executive Officer and Managing Director – added that the Bank’s participation in this consortium continues its approach of supporting promising development sectors and projects with high economic viability, affirming that the Bank is keen to be a key partner in banking syndications aimed at promoting sustainable development and supporting the national economy.

The consortium includes a number of leading banks in the Egyptian market, including the National Bank of Egypt, Banque Misr, Banque du Caire, Arab African International Bank, Bank of Alexandria, and other participating banks, reflecting the strength and diversity of the banking sector and its ability to finance major projects.