Arab Finance: Emirates NBD – Egypt announced the signing of a financing contract with the Arab Construction Company (ACC), one of the leading companies in the field of construction in the Middle East, which includes providing credit facilities worth 2.5 billion Egyptian pounds with the aim of supporting and enhancing the company’s current and future projects in Egypt and the GCC countries. Gulf Cooperation, which reflects the joint commitment between the two parties to contribute to advancing economic development and strengthening vital sectors in line with Egypt’s Vision 2030, according to the statement sent on December 23.
This partnership is based on the long-term and successful relationship between the Emirates NBD Bank Group and the Arab Construction Company (ACC) in the United Arab Emirates, which has resulted in years of constructive cooperation and joint achievements between the two parties.
With the expansion of the scope of this fruitful cooperation to include the Egyptian market, Emirates NBD – Egypt continues to consolidate its position within the Egyptian banking sector, enhancing its ability to support major projects with a positive impact that contribute to driving economic growth and development in the country.
The signing ceremony witnessed the presence of a group of prominent leaders from both parties. On the part of Emirates NBD Bank – Egypt, Amr El Shafei, CEO and Managing Director, Tamer Ragheb, Head of the Corporate and Financial Institutions Credit Sector, Khaled Yahya, Head of the Foreign and Multinational Companies Sector, and Mustafa Ashraf, Head of the Foreign and Multinational Companies Team.
On the part of the Arab Construction Company (ACC), Maher Al-Merhebi, Group CEO, Ismail Magdy, Board Member for the company’s financial affairs in Egypt and Africa, and Salah Al-Qadi, Director of the company’s branch in Egypt, attended.
Amr El Shafei, CEO and Managing Director of Emirates NBD – Egypt, stressed the importance of this partnership, saying: “The partnership between Emirates NBD – Egypt and the Arab Construction Company (ACC) reflects our firm commitment to supporting vital sectors, most notably the construction sector.
This partnership represents an important strategic step in our growth journey, as cooperation with one of the leading companies in the field of construction contributes to accelerating our expansion plans, diversifying our business portfolio, and enhancing our ability to provide innovative financial solutions.”
For his part, Tamer Ragheb, Head of the Corporate and Financial Institutions Credit Sector at Emirates NBD – Egypt, said: “Our vision is based on building long-term partnerships with industry leaders in various key sectors to enhance their ability to achieve their strategic goals, in addition to providing credit facilities.
This agreement with the Arab Construction Company (ACC) represents a vivid example of our commitment to providing the necessary support to expand the company’s business and enhance its positive impact on the Egyptian and regional economy.”
Khaled Yahya, Head of the Foreign and Multinational Companies Sector at Emirates NBD – Egypt, stressed the importance of this partnership, saying: “This partnership reflects an extension of the close relationship that brings us together with the Arab Construction Company (ACC), and confirms our commitment to supporting multinational companies by providing solutions.” “Innovative financial services that enhance our competitiveness in various markets. We are proud of our role in supporting major companies that contribute to achieving sustainable growth and advancing economic integration, which consolidates our position as a reliable banking partner.”
For his part, Maher Al-Marabi, Group CEO of the Arab Construction Company (ACC), expressed his enthusiasm for this partnership, saying: “We are pleased to cooperate with Emirates NBD – Egypt, as these credit facilities will allow us the opportunity to implement new projects and expand the scope of our operations inside and outside Egypt.” .
The support provided by the bank represents an important strategic step in the growth path of our company, and we are confident that this partnership will contribute to achieving added value for both parties and enhance our joint successes.”
Ismail Magdy, Member of the Board of Directors for Financial Affairs of the Arab Construction Company in Egypt and Africa, stressed the strategic importance of this partnership, saying: “The support provided by Emirates NBD – Egypt constitutes a fundamental pillar of the company’s growth strategy. We are confident that this partnership will contribute to achieving the achievements of “It is distinguished and will bring great benefits to both parties.”
This agreement highlights Emirates NBD – Egypt's firm commitment to driving sustainable economic growth and enhancing the pace of long-term development.
The bank continues to expand the scope of its services to meet the needs of a diverse and dynamic customer base in various sectors, relying on strategic partnerships and providing innovative financial solutions specifically designed to meet the aspirations of its customers and achieve a tangible positive impact on the economy.
