QNB Egypt leads EGP 11.98 billion syndicated loan for strategic East Port Said infrastructure project
QNB Egypt leads EGP 11.98 billion syndicated loan for strategic East Port Said infrastructure project
CAIRO, Egypt – May 19, 2026 – QNB Egypt, a subsidiary of QNB Group, announced the successful arrangement and signing of a medium-term syndicated financing facility worth EGP 11.98 billion for Qased Khair for General Supplies and Contracting to support a strategic infrastructure development project at East Port Said Port.
QNB Egypt acted as the Initial Mandated Lead Arranger, Facility Agent, Security Agent and Account Bank for the financing consortium, which includes 12 banks participating in the transaction.
The syndicated loan reflects QNB Egypt’s strategy to strengthen its position as one of the leading financial institutions supporting large-scale strategic projects and sustainable development initiatives aligned with the broader objectives of QNB Group.
The banking consortium includes Banque Misr, National Bank of Egypt, Banque du Caire, Arab African International Bank, AlexBank and National Bank of Kuwait - Egypt as Initial Mandated Lead Arrangers and Bookrunners, alongside Kuwait Finance House - Egypt, Al Baraka Bank Egypt and MIDBANK as Mandated Lead Arrangers, in addition to Next Bank and Industrial Development Bank as arrangers.
Under the agreement, Qased Khair will execute the project, which includes the construction and development of new marine berths at East Port Said Port with a total length of 6,050 meters and a draft depth of 22 meters, aiming to enhance the port’s operational efficiency and competitiveness at both regional and international levels.
The financing supports Egypt’s broader efforts to develop maritime transport and infrastructure sectors, reinforcing the country’s position as a regional hub for trade and logistics while supporting sustainable economic growth and attracting foreign investment.
Commenting on the deal, Mohamed Bedeir, CEO of QNB Egypt, said: “This financing reflects QNB Egypt’s role in arranging and executing strategic financing transactions that empower priority sectors, particularly transportation and infrastructure, contributing to the competitiveness of the Egyptian economy and supporting sustainable growth.”
Meanwhile, Saeed Gamal, Chairman of Qased Khair, stated that the financing marks a key milestone in the implementation of the East Port Said development project and reflects the banking sector’s confidence in the project’s strategic importance and economic feasibility.
Executives from participating banks highlighted the importance of the project in strengthening Egypt’s logistics infrastructure, enhancing maritime trade movement and supporting the country’s Vision 2030 strategy through sustainable infrastructure investments and strategic banking partnerships.
The project is expected to represent a significant addition to Egypt’s port infrastructure by boosting international trade movement and strengthening connectivity between regional and global markets, while demonstrating the banking sector’s ability to structure and provide financing for large-scale strategic projects.