HomeGlobal EconomyArab Finance - ABC Bank grants $18 million in financing to one...

Arab Finance – ABC Bank grants $18 million in financing to one of the Turkish companies Eroglu Global


ABC Bank grants financing of $18 million to one of the Turkish companies Eroglu Global

Arab Finance: ABC Bank granted long-term financing for a period of 7 years worth $18 million to Eroglu Garment Company, affiliated with the Turkish Eroglu Global Holding Group, which specializes in the field of manufacturing textiles and ready-made clothing.

The signing was made on behalf of Bank ABC by Ahmed Khattab, Head of Financial Institutions and Companies at the bank, and on behalf of the group by Nour El-Din Eroglu – Chairman of the Board of Directors of Eroglu Global Holding Group, in the presence of a number of leaders of the bank and the group.

This funding aims to support the group's expansion plans, through which it will contribute to establishing a new factory in the industrial zone affiliated with the Suez Canal Economic Zone. The total investment cost of the new factory is about 40 million dollars and it aims to employ about 3,000 workers.

It is worth noting that the group aims to expand its business in Egypt with the aim of making Egypt a regional center for manufacturing and exporting its products. With this financing, ABC Bank’s total contribution to financing the Eroglu Global group of companies in Egypt reaches about 26.5 million dollars.

Bank ABC has an ambitious vision for growth in the Egyptian market, especially after the success of the full merger early this year, as it is keen to expand corporate financing and provide distinguished banking services that enhance its competitiveness in the Egyptian market, in implementation of its strategic objectives in supporting various sectors, which reflects positively on the national economy and achieves Egypt’s vision. 2030.

Related news



RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
- Advertisment -

Most Popular

Recent Comments