WNR: Here’s what happened in MENA this week

WNR: Here’s what happened in MENA this week

IMF finally approved the 46-month $3 billion Egypt loan, this decision enables an immediate disbursement of about $347 million “which will help meet the balance of payments need and provide support to the budget,” according to the IMF statement.

NEOM is building the “world’s largest green hydrogen plant”, it signed facility agreements with local, regional, and international banks along with a commitment letter from the Saudi Industrial Development Fund (SIDF). The plant will integrate up to 4GW of solar and wind energy to produce up to 1.2 million tonnes of green ammonia which amounts to up to 600 tonnes per day of carbon-free hydrogen.

Chimera Investments is back with another deal to acquire 45% of GB Lease in an 855 million EGP transaction. The EGX disclosure states that GB Capital will remain the majority shareholder of GB Lease having 55% of the shares.

Another acquisition deal took place this week, Egypt’s CheckMe acquired the virtual clinic app DoctorOnline, the acquisition falls in line with CheckMe’s regional expansion strategy and expanding its service offering.

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