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In line with its commitment to sustainable economic development, National Bank of Kuwait – Egypt (NBK Egypt) has strengthened its role as a key partner in financing Egypt’s major national projects. The bank has signed a $115 million financing agreement in partnership with the International Finance Corporation (IFC) to support the development of Nawatom Ports – Safaga Terminal in Egypt.

The financing underlines NBK Egypt’s dedication to long-term, high-impact projects that enhance Egypt’s logistics infrastructure, improve the efficiency of national ports, and reinforce the country’s strategic position as a regional hub for trade and global supply chains.

The agreement, structured as a long-term syndicated loan with a maturity of up to 15 years, reflects international and regional financial institutions’ confidence in Egypt’s economy and the operational capabilities of Abu Dhabi Ports Group, as well as the strategic significance of Safaga as a key Red Sea trade gateway. The financing is expected to be finalized in the first quarter of 2026.

Driving Egypt’s Economic Growth
Mr. Yasser El-Tayeb, Vice Chairman and CEO of NBK Egypt, stated:
"Our participation in this large-scale financing demonstrates our strategic commitment to supporting national economic development. Port development projects are a critical driver of growth, enhancing foreign trade flows, boosting Egypt’s competitiveness, and creating sustainable employment opportunities."

He added that long-term financing provided by banks is a crucial factor in transforming development plans into real projects that deliver tangible economic impact, aligning with global best practices in infrastructure financing.

NBK Egypt’s Strength and Expertise
Mr. Walid El-Sewfy, Deputy Managing Director of NBK Egypt, emphasized that successfully structuring and participating in such a high-value financing deal reflects the bank’s strong financial standing, deep expertise in strategic project financing, and ability to deliver integrated financial solutions aligned with national development priorities.

The Safaga Terminal, part of the $200 million Nawatom Ports project, is Egypt’s first international maritime terminal in Upper Egypt. Its strategic location on the Red Sea supports regional and global trade flows, contributes to Vision 2030, and promotes investment, productivity, and job creation.