NBE Affordable Housing Project
Egypt
Proposed
Social Infrastructure
Quick Facts
More About This Project
Housing is regarded as one of the engines of economic growth and can be a significant economic catalyst through its forward and backward linkages with multiple industries. The sector has strong inter-industry connections and investments in housing can greatly impact income generation and employment in the country. Recognizing the importance of housing as a basic human need, the national initiative “Housing for All Egyptians” is meant to tackle Egypt’s housing needs.
Established in 1898, National Bank of Egypt (“NBE”) is the oldest and largest state-owned commercial bank in Egypt, holding a dominant position in the country’s banking sector. With NBE’s extensive network in Egypt, NDB loan will provide funding to NBE to support and expand its lending for affordable housing projects for individuals from low- and middle-income groups, including first-time homeowners in Egypt under the continued “Housing for All Egyptians” program.
The project complements the Government of Egypt’s “Housing for All Egyptians” program and increases the low- and middle-income beneficiaries targeted by NBE who may not be able to own houses without the support of government subsidies.