According to bank documents, the investment is a provison of a USD 25 million two year working capital loan (the "Loan") to support Orascom Construction S.A.E (the "borrower" or the "Company") working capital needs in Egypt amidst the COVID-19 pandemic crisis.
Support the Company's working capital requirements. The Company is expecting higher working capital needs as result of the COVID-19 pandemic. During the first quarter of 2020 the Company already experienced the effects of partial lock down in addition to social distancing and health and safety requirements at the project sites. A two year USD working capital facility will improve the Borrower's financial resilience to withstand the potential negative implications of the COVID-19 pandemic.
2005A Corniche El Nil, Nile City South Tower, 25th Floor, Cairo - Egypt 11221
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