{"id":486187,"date":"2025-10-29T17:51:21","date_gmt":"2025-10-29T17:51:21","guid":{"rendered":"https:\/\/www.financialafrik.com\/en\/2025\/10\/29\/the-suez-canal-enhances-its-attractiveness-with-a-635-million-funding-dedicated-to-ports-and-infrastructure\/"},"modified":"2025-10-29T17:51:26","modified_gmt":"2025-10-29T17:51:26","slug":"the-suez-canal-enhances-its-attractiveness-with-a-635-million-funding-dedicated-to-ports-and-infrastructure","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2025\/10\/29\/the-suez-canal-enhances-its-attractiveness-with-a-635-million-funding-dedicated-to-ports-and-infrastructure\/","title":{"rendered":"The Suez Canal enhances its attractiveness with a $635 million funding dedicated to ports and infrastructure"},"content":{"rendered":"
<\/div>

In Egypt, the General Authority for the Suez Canal Economic Zone (SCZone) announced that it has secured a long-term bank financing of 30 billion Egyptian pounds (approximately $635 million) from the Commercial International Bank (CIB). This partnership is part of the SCZone’s strategy to modernize ports, complete infrastructure projects, and support energy and industrial projects in the related economic zones.<\/p>\n

With a duration of 17 years, this funding includes the restructuring of a previous loan of 10 billion pounds ($212 million) and the granting of a new credit of 20 billion ($423 million) to support the development of the zone. The funds will be used to finance power plants, water treatment plants, gas stations, communication networks, and transportation infrastructure.<\/p>\n

SCZone President Walid Gamal El-Din emphasized that this financing reflects the banking sector’s confidence in the strength of the economic zone and its role as a driving force for the Egyptian economy. He noted that this initiative is part of Egypt’s Vision 2030, which aims to boost domestic production and increase the country’s exports beyond $145 billion.<\/p>\n

He added that the Authority relies on self-financing its projects to fulfill its commitments without burdening the state budget, while accelerating the completion of its infrastructure to attract more foreign investments.<\/p>\n

SCZone is currently overseeing expansion and modernization works in several key ports, including East and West Port Said, Adabiya, Ain Sokhna, Arish, and El-Tor, to enhance their performance and attract new international maritime routes to the Red Sea and the Mediterranean.<\/p>\n

On the other hand, Amr El-Ganainy, Deputy General Manager and Board Member of CIB, reaffirmed the bank’s commitment to support major national projects and contribute to the country’s economic growth. He praised the strategic role of SCZone in promoting industrial development and attracting foreign investments.<\/p>\n

This funding, he commented, will not only improve port infrastructure but also create new jobs, enhance Egypt’s logistics competitiveness, and strengthen its regional and international position, in perfect alignment with the goals of Vision 2030.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

In Egypt, the General Authority for the Suez Canal Economic Zone (SCZone) announced that it has secured a long-term bank financing of 30 billion Egyptian pounds (approximately $635 million) from the Commercial International Bank (CIB). 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