UK Export Finance (UKEF), the UK’s export credit score company, and Hassan Allam Holding, one of many largest engineering, development, funding and improvement corporations in Egypt and the MENA area, signed a Memorandum of Understanding to extend cooperation in numerous initiatives throughout Africa.
The settlement signed on the British Embassy in Cairo, goals to strengthen and improve the cooperation between UK Export Finance and Hassan Allam Holding to additional safe inward funding into the UK and to advertise cooperation on financing initiatives and encourage commerce between the UK and Africa as a complete.
Attending the signing ceremony have been:
- Gareth Bayley, British Ambassador to Egypt
- Hassan Allam, CEO of Hassan Allam Holding
- Merette Elsayed, Chief Industrial Officer of Hassan Allam Holding
- Mohamed Saad, Head of Export Finance for UKEF Egypt
- Alastair Lengthy, His Majesty’s Performing Commerce Commissioner (HMTC) for Africa
- Anisah Dathi, Director of the Division of Worldwide Commerce, British Embassy in Cairo
British Ambassador to Egypt Gareth Bayley mentioned: It’s a nice pleasure to witness the signing of this Memorandum of Understanding between UK Export Finance and Hassan Allam Holding, which strengthens our two nations’ partnership throughout Africa. Hassan Allam Holding is considered one of Egypt’s main companies, and we’re happy with our partnership, which dates again to the early days of Hassan Allam Holding once they imported their first tiles from the UK. We sit up for persevering with our work collectively, bringing mutual commerce and prosperity to Egypt and the UK.
Hassan Allam, CEO of Hassan Allam Holding, mentioned: We’re proud to have signed a Memorandum of Understanding with UK Export Finance, which is able to foster numerous vital initiatives, selling cooperation on financing initiatives and inspiring commerce between the UK and the continent. Such strategic partnerships spotlight our dedication to delivering mega initiatives throughout Africa.
Tim Reid, CEO of UK Export Finance, mentioned: I’m delighted to signal a Memorandum of Understanding with Hassan Allam Holding Firm. UKEF has supported initiatives in Egypt and throughout Africa which have reworked native infrastructure and supported livelihoods. We need to construct upon these achievements, and this partnership will assist us to determine future alternatives within the area the place UK exporters can deliver substantial advantages.
UKEF was established in 1919 to assist UK exporters and the consumers of UK items and companies, and has contributed in recent times to numerous main initiatives in Egypt. In 2021, UKEF offered a £1.7 billion assure to assist the development of the Cairo Monorail, one of many largest quantities of financing offered for an abroad infrastructure challenge in UKEF’s historical past. There may be additionally £2 billion obtainable to assist extra initiatives in Egypt and throughout Africa, displaying UKEF’s dedication to the Egyptian market.
Hassan Allam Holding is among the largest corporations in Egypt and the MENA area, with greater than 85 years of expertise within the engineering, development, and infrastructure areas; specializing in engineering and development and funding and improvement and taking strong strides in renewable vitality, water, logistics, mobility, and social infrastructure.
It has a portfolio of initiatives spanning from solar energy and water to petrochemicals amenities, nationwide museums, airports, and hundreds of kilometers of roads and bridges – from Egypt to Algeria and past.
Distributed by APO Group on behalf of British Embassy Cairo.
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