Emirates NBD Egypt, a subsidiary of the prominent banking group Emirates NBD, has achieved a significant milestone in the Egyptian market through a strategic partnership with Abdos FMCG Manufacturing Company-Egypt, Invest-Gate reports.

The partnership involves the signing of a medium-term loan facility that will have substantial implications for both entities involved. This collaboration not only presents new opportunities but also contributes to the overall development of the Egyptian market.

Abdos FMCG Egypt has secured a deal with the Suez Canal Economic Zone (SCZone) to establish a factory at the Sokhna Complex within Orascom Industrial Parks. This move is expected to create around 500 direct job opportunities, showcasing the positive impact of the partnership.

The decision to establish a manufacturing unit aligns with SCZone’s vision of expanding its reach to global markets, particularly Asian economies that maintain strong trade relations with Egypt. The SCZone, along with the Egyptian government, has been actively implementing various financial incentives to attract new investments and create a favorable environment for investors.

The partnership between Emirates NBD Egypt and Abdos FMCG Egypt perfectly aligns with the bank’s core objectives of supporting foreign investments, promoting sustainable development, and making a positive difference in the communities it serves. Furthermore, this collaboration underscores the bank’s unwavering commitment to Egypt Vision 2030, an extensive development plan aimed at driving the country’s economic growth and prosperity.

This significant deal was successfully completed under the supervision of several key figures from Emirates NBD Egypt including Tamer Ragheb, Head of Corporate & Institutional Banking; Khalid Yehia, Head of Multinationals; Rana Ashour, Sector Head Multinationals, in addition to Aliaa Khalil, Relationship Manager Multinationals.