According to him, during the past few years MIDB has transferred part of its assets to Iranian banks in hope of broadening economic and political ties with Iran.
MIDB chairman, Ismaeil Hasan, for his part, referred to the bank's activities including development projects in both Iran and Egypt which brings about huge profits for the two countries.
Silicon Ranch President and Chief Executive Officer Matt Kisber said, Silicon Ranch is honored to partner with the Department of the Navy, TVA, MLGW and the MIDB to deliver cost-effective, clean energy to support NSA Mid-South.
MIDB Board Chair Carey Parham stated, NSA Mid-South provides an annual economic impact of over $330 million to this area.
Misr Iran Development Bank (MIDB) plans to pump EGP 800m of new loans to several important sectors before the end of 2015, according to Amr Tantawy, Managing Director of MIDB and Board Member of Federation of Egyptian Banks (FEB).
The industrial sector, in particular, owns 40% of the loans portfolio in MIDB, while the financial services, construction, and real estate sectors own 15% each.
In this regard, MIDB took part in a loan organised by the Abu Dhabi Islamic Bank (ADIB) in favour of the Egyptian Electricity Holding Company (EEHC).
The mission welcomes the MIDBs
plan to refocus on its core mandate of providing commercial lending, rather than consumer loans.