Cairo - Mubasher: Qatar National Bank (QNB Egypt) and GlobalCorp Financial Services Group signed a credit facility agreement valued at EGP 2 billion to finance leasing contracts across various sectors.
Moreover, a total of EGP 1 billion will be allocated to real estate financing, according to a press release.
The deal aims at supporting GlobalCorp's expansion plans and boosting its ability to offer flexible and innovative financing solutions tailored to the needs of its clients across various economic sectors.
This cooperation reflects the growing focus on supporting non-banking financial companies, enabling them to expand and meet market demands. This is in addition to expanding investment and driving economic growth.
CEO of QNB Egypt, Mohamed Bedeir, said: “This collaboration reflects the bank’s commitment to expanding its strategic partnerships with leading financial institutions and supporting productive and service sectors by providing effective financing solutions that help drive development, especially amid current economic challenges.”
Global Corp aims to support its expansion plans and increase its ability to meet the growing demand for innovative financing solutions, with a focus on supporting various economic sectors, particularly SMEs, thereby contributing to economic growth and enhancing financial inclusion.
The EGX-listed lender recently participated in a financing project to establish the Middle East’s largest single sustainable aviation fuel (SAF) production facility in Egypt.
