Cairo – Mubasher: The National Bank of Kuwait-Egypt (NBK-Egypt) announced the provision of EGP 850 million in funding for Madkour for Projects Company for replacing and upgrading medium and low voltage electricity networks in some villages of Markaz Esna and Markaz Armant in Luxor Governorate.
The financing agreement was signed by the Head of Business Group at NBK-Egypt, Amr El-Alfy, and the Chairman of Madkour for Projects Company, Mostafa Madkour, according to a press release on Thursday.
Madkour Group, a national company engaged in energy and infrastructure sector projects, has executed more than 50 mega projects over the last five years, Madkour pointed out.
For his part, El-Alfy noted that the bank has been adopting a clear strategy to support and finance mega and infrastructure projects that help the country in its plans to achieve progress for all Egyptians as part of the presidential initiative of Haya Karima (A Decent Life).
In the first half (H1) of 2021, NBK-Egypt logged net profits of EGP 694.47 million, down from EGP 753.48 million in H1-20.
