We acted as local counsel regarding Egyptian law for the European Bank for Reconstruction and Development(EBRD) on signing an extension loan agreement of EGP 341 million with Abou Ghaly Motors (AGM). This loan will support AGM in acquiring up to 100 Range-Extended Electric Vehicles to be operated as private taxis under the company's London Cab Egypt services.

AGM's new fleet will drive the company's growth along a more sustainable path, encouraging a cleaner, eco-friendly mode of transport in Egypt. This effort will help lower CO2 emissions and reduce air pollution while addressing the increasing need for safe, inclusive, and high-quality transportation across the country.

Our team was led by Hossam Gramon, Partner, and Karima Seyam, Senior Associate, assisted by Aya Badr, Associate, and Junior Associates Mostafa Khaled and Nour Osama.

Congratulations to Ahmed Farahat, Principal Counsel at EBRD; Hana Khaled, Associate Director at EBRD; Nada El Shafei, Principal Banker at EBRD; Suraya Eltawil, Associate Legal Counsel at EBRD; Melody Khouzam, Analyst at EBRD.

We would like to congratulate our client EBRD and Mr Mohamed Abou Ghaly, Senator and Board Member at AGM.

For more information, check out EBRD's News coverage here.