Egypt parliament approves $2bn loan from regional banks

Egypt’s Parliament yesterday approved President Abdel Fattah Al-Sisi’s request for a $2 billion commercial loan from a consortium of regional banks, including Emirates NBD Capital Limited, Standard Chartered, Arab Banking Corporation (ABC), First Abu Dhabi Bank, Mashreq and Emirates NBD (PJSC). Finance Minister Ahmed Kouchouk addressed lawmakers, stating that the…