QNB Egypt Leads EGP 11.98 billion Syndicated Financing for Strategic East Port Said Port Development by Kased Khair

Cairo, Egypt, 19 May 2026: QNB Egypt, a subsidiary of QNB Group, a leading financial institution in the Middle East and Africa, announced the successful arrangement of a medium-term syndicated loan worth EGP 11.98 billion for Kased Khair for General Supplies and Contracting. Acting as the Initial Mandated Lead Arranger, Facility Agent, and Bookrunner, QNB Egypt led a banking consortium comprising 12 banks to finance a strategic infrastructure development project at East Port Said Port, one of Egypt’s key logistics and maritime gateways.

The financing reflects QNB Egypt’s ongoing commitment to supporting large-scale strategic projects that contribute to strengthening national infrastructure and advancing sustainable economic growth, in line with QNB Group’s long-term strategic vision.

The consortium includes Banque Misr, National Bank of Egypt, Banque du Caire, Arab African International Bank, ALEXBANK, part of the Intesa Sanpaolo Group within the International Banks Division, National Bank of Kuwait – Egypt, acting as initial mandated lead arrangers, Kuwait Finance House - Egypt, Al Baraka Bank Egypt, MIDBANK, acting as lead arrangers NXT Bank, and Industrial Development Bank, acting as arrangers. 

Under the project, Kased Khair will undertake the construction and development of new marine berths at East Port Said Port, spanning a total length of 6,050 meters and featuring a draft depth of 22 meters. The project is expected to significantly enhance the port’s operational capacity and strengthen its competitiveness at both the regional and international levels.

This initiative supports the development of the maritime transport and infrastructure sectors, reinforcing Egypt’s position as a regional hub for trade and logistics, while supporting investment attraction and sustainable economic growth. It also reflects the strength of collaboration among banking institutions, alongside QNB Egypt’s expertise in structuring and managing syndicated facilities to support major strategic projects. 

The project represents a significant addition to Egypt’s port infrastructure by supporting international trade flows and enhancing connectivity between regional and global markets, in line with QNB Egypt’s commitment to providing integrated financing solutions that support national development plans.

Dario Grassani, Deputy CEO and Chief Financial Officer of ALEXBANK, stated: “ALEXBANK’s participation in this syndicated financing stems from our ongoing commitment to supporting national and strategic projects that contribute to enhancing the competitiveness of the Egyptian economy and advancing sustainable development efforts, in line with the Intesa Sanpaolo Group’s vision. The maritime transport and infrastructure sector represents one of the fundamental pillars of economic growth, given its pivotal role in supporting trade movement, enhancing the efficiency of supply chains and logistics services, and increasing Egypt’s ability to attract regional and international investments.”

He also expressed his appreciation to all parties participating in this financing, commending the spirit of collaboration that contributed to the successful completion of the agreement, reflecting the banking sector’s ability to support vital projects with significant economic and developmental impact.