Colors: Blue Color

Leading global law firm, Baker McKenzie, has acted as legal counsel to the Egyptian Government, acting through the Ministry of Finance, on the signing of a USD 2 billion syndicated financing transaction that has been approved by the House of Representatives. The financing, with a tenor of 12 months, was multi-sourced and provided in the form of a conventional commercial facility (USD 1.490 billion) and an Islamic facility (USD 510 million). It represents the first sovereign debt that Egypt has raised from commercial lenders.

Contractors.Direct has entered a strategic collaboration with DMCC to provide its free zone tenants with the option to streamline the commercial fit out process through use of its platform. DMCC customers and tenants that select a qualified contractor from the platform will be eligible to apply for project financing for as much as AED 3.5 million and spread the cost of their project over three years.