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NBD to finance electric grid using Islamic finance

Posted on 25 February 2013

The National Bank for Development (NBD) announced on that it has signed on to finance US$110 million in improvements for the East Delta Electricity Company, which will be the first public project financed according to principles of Islamic Sharia, according to a bank statement.
The financing will go towards parts replacements in the Shabab and Damietta stations run by the East Delta Electricity Production Company. These improvements, according to the bank, will help increase the capacity of the national electrical grid………………………………………..Full Article: Source

 
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