The Clap
The Commercial International Bank (COMI) has inked deals worth 3 billion Egyptian pounds (or the equivalent in hard currency) to finance the Arab Construction Company, a seasoned player in the field of building & urban development with over 50 years of experience.
What
Notably, ACC has a track record of constructing hotels such as the Ritz-Carlton & Marriott, as well as 57357 Hospital.
So what
This funding will aid Arab Construction in executing its joint ventures with the private sector in Egypt and the Arab world.
Now what
Amr El-Ganainy, CEO of institutional banking at CIB, highlighted that this move showcases CIB’s significant contribution to the progress of the Egyptian economy.
