IFC to sign loan deal with NBK-Egypt

The International Finance Corporation (IFC) will ink a loan agreement on Wednesday with the National Bank of Kuwait-Egypt.

This comes as part of the IFC efforts to revive Egypt's economy.

The agreement will be signed in the presence of Regional Director of the IFC in the Middle East and North Africa Mouayed Makhlouf, Director of the IFC in Egypt Nada Shousha and Managing Director of the National Bank of Kuwait-Egypt Yasser Hassan.

In a statement, Shousha said the aim behind such loans is to support different sectors of the economy to achieve high growth rates and create more job openings for youth.

The IFC has pumped investments of $ 1.2 billions in financial, infrastructure, oil, gas, agriculture, industry and medical care fields between 2011-2015.