CIB signs EGP 1.8bn financing agreement with CRC for Solana project in New Zayed
Commercial International Bank (CIB), Egypt’s leading private-sector bank, has signed a financing agreement with Construction and Reconstruction Engineering Co. (CRC), a Class A certified general contractor affiliated with Dorra Group, to fund the construction of the upcoming Solana project in New Zayed, Cairo.
Founded in 1943, Dorra Group is one of Egypt’s largest private sector entities, specializing in construction and real estate development for both residential and commercial properties.
Commenting on the transaction, Amr El-Ganainy, Deputy CEO & Executive Board Member at CIB, stated, “We are pleased to partner with CRC in this lending agreement. This financing underscores CIB’s confidence in Dorra Group and our commitment to funding construction projects that contribute to Egypt’s economic prosperity.”
Mohamed Dorra, Chairman of CRC, expressed his gratitude for the strategic alignment between CIB and CRC. He also highlighted his satisfaction with the quality of service provided by CIB, emphasizing the positive impact of this partnership while discussing opportunities for future growth and shared success.
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