{"id":321356,"date":"2021-03-07T10:31:08","date_gmt":"2021-03-07T10:31:08","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321356"},"modified":"2021-03-07T10:31:08","modified_gmt":"2021-03-07T10:31:08","slug":"redcon-gets-an-egp-2-7bn-loan-from-aaib-to-complete-project-at-new-alamein","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/03\/07\/redcon-gets-an-egp-2-7bn-loan-from-aaib-to-complete-project-at-new-alamein\/","title":{"rendered":"Redcon gets an EGP 2.7bn loan from AAIB to complete project at New Alamein"},"content":{"rendered":"<p>The Arab African International Bank (AAIB) signed a loan contract with the Redcon Development Company to provide 2.7 billion Egyptian pounds to complete the second phase of New Alamein City\u2019s Latin Quarter project.<\/p>\n<p>The financing supports the bank\u2019s realisation of the vital role played by developing and constructing new cities. This helps achieve sustainable regional development, and recognises the importance of real estate financing in supporting the local economy.<\/p>\n<p>This also ensures the development of unplanned areas, providing decent and productive job opportunities for young people. It allows this segment to actively participate in the development of their societies, in line with the eleventh goal of the UN\u2019s sustainable development goals (SDGs).<\/p>\n<p>The signing took place yesterday at the AAIB\u2019s headquarters in Cairo, in the presence of Sherif Elawi, the bank\u2019s Managing Director and Vice-Chairperson of the Board of Directors.<\/p>\n<p>Elawi said that the financing enhances the bank\u2019s leadership and its long-standing experience in providing integrated solutions to provide the necessary funds to complete projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Arab African International Bank (AAIB) signed a loan contract with the Redcon Development Company to provide 2.7 billion Egyptian pounds to complete the second phase of New Alamein City\u2019s Latin Quarter project.<\/p>\n","protected":false},"author":4,"featured_media":321357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-321356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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