The National Bank of Egypt (NBE) signed an agreement with Orascom Investment Holding to finance the development of the sound and light show at the Pyramids of Giza.
The EGP 311 million loan is aimed at supporting the tourism sector, one of the major economic sectors and foreign-currency income streams in Egypt, the NBE’s Vice Chairman, Yehia Aboul Fotouh, said in a statement on Sunday.
The nine-year funding includes a long-term loan to finance the investment cost of the project as well as letters of guarantee, the Corporate and Syndication CEO at NBE, Sherif Riad, stated.
The CEO of Orascom Investment, Naguib Sawiris, noted that the company plans to improve the quality of services and use the latest technology in management and operation to turn it into a global entertainment area.
