The National Bank of Egypt (NBE) offered finances of US$ EGP 2 billion to the government in the period that followed 2011’s revolution, which were used to finance the importing of the needed diesel and other strategic products, said Tarek Amer, chairman of NBE and head of the Federation of Egyptian Banks. NBE offered US$ 300 million to the Ministry of Petroleum in order to provide gas pipes amid the current crisis.

On the sidelines of the symposium held by the bank to introduce the banking transactions and technologies, Amer said the bank acquires US$ 1.9 billion, thanks to the dollar bonds the bank earlier offered in global markets with an interest rate of 5% in 2010 and had received a lot of criticism at that time.

NBE has sent its employees to international banks in Munich, Zurich, London and Paris in order to know the international view of Egypt’s economy. International bankers were seen to have high confidence in the current governor of the Central Bank of Egypt who has implemented reform plans to the banking sector, Amer noted.