Banque Misr has signed an eight-year financing agreement worth EGP 300 million and $6.5 million with Andalusia Hospital Maadi. The funds will support construction and medical expansions at the facility. The project aims to add 70 new beds to meet rising demand for specialised care.
The agreement forms part of Banque Misr's efforts to back key sectors including healthcare. It seeks to improve operational efficiency and service quality at the hospital in line with international standards.
Hesham Okasha, CEO of Banque Misr, said the bank provides financing solutions that address societal needs. He added that the deal directs resources toward projects offering the best value for development.
Hazem Zaqzouq, CEO and Vice Chairperson of Andalusia Health Group, noted that the group manages assets worth $1 billion. He said the expansion shows the group's ability to deliver projects despite logistical challenges and supply constraints.
Zaqzouq described the partnership with Banque Misr as more than a credit facility. It supports operational growth and responds to increasing demand for healthcare services in Egypt.