QNB Egypt announced the successful arrangement of a medium-term syndicated loan worth EGP 11.98 billion for Kased Khair for General Supplies and Contracting to support a strategic infrastructure project at East Port Said Port.
The bank acted as the Initial Mandated Lead Arranger, Facility Agent, and Bookrunner, leading a consortium of 12 banks participating in one of the largest infrastructure financing transactions in Egypt’s maritime sector.
Strategic Investment in Egypt’s Logistics Infrastructure
The financing will support the construction and development of new marine berths at East Port Said Port, extending over 6,050 meters with a draft depth of 22 meters.
The project is expected to significantly enhance the port’s operational efficiency and strengthen its competitiveness regionally and internationally, supporting Egypt’s ambitions to position itself as a leading logistics and maritime hub.
Broad Banking Consortium Participation
The financing consortium includes several major financial institutions operating in Egypt, including:
- Banque Misr
- National Bank of Egypt
- Banque du Caire
- Arab African International Bank
- ALEXBANK
- NBK Egypt
- KFH Egypt
- Al Baraka Bank Egypt
- MIDBANK
- NXT Bank
- Industrial Development Bank
The participation reflects strong confidence from the banking sector in the strategic importance of the project and its long-term economic impact.
Supporting Egypt’s Vision for Trade and Logistics
The East Port Said Port development project aligns with Egypt’s plans to strengthen its role as a regional center for maritime transport, logistics, and international trade.
The project is also expected to:
- Improve supply chain efficiency
- Increase cargo handling capacity
- Support foreign investment attraction
- Enhance connectivity between regional and global markets
Industry leaders emphasized that infrastructure investments of this scale play a critical role in driving sustainable economic growth and boosting Egypt’s competitiveness.
QNB Egypt Highlights Strategic Financing Role
Commenting on the transaction, Mohamed Bedeir, CEO of QNB Egypt, said the financing demonstrates the bank’s expertise in structuring and executing large-scale syndicated loans that support strategic sectors such as transport and infrastructure.
He added that the project contributes directly to strengthening the competitiveness of the Egyptian economy and supporting long-term sustainable development objectives.
Banking Sector Confidence in National Projects
Executives from participating banks highlighted the importance of collaboration among financial institutions in financing strategic national projects.
Officials from Banque Misr, National Bank of Egypt, Banque du Caire, ALEXBANK, NBK Egypt, KFH Egypt, Al Baraka Bank Egypt, MIDBANK, NXT Bank, and Industrial Development Bank all emphasized that the project reflects growing confidence in Egypt’s infrastructure sector and the banking sector’s ability to support major development initiatives.
East Port Said’s Strategic Importance
Located at the entrance of the Suez Canal, East Port Said Port is considered one of the most strategically important ports in the Eastern Mediterranean.
The development project is expected to strengthen Egypt’s position in global maritime trade by increasing port capacity and attracting additional international investments.
As Egypt continues expanding its logistics and transportation infrastructure, large-scale financing partnerships such as this syndicated facility are expected to play an increasingly important role in supporting national development plans and economic growth.
