Strategic Partnership between Banque Misr and Andalusia Health Group to Finance Major Medical Projects in Egypt

In a strategic move to strengthen Egypt’s healthcare sector in line with Egypt Vision 2030, Andalusia Health Group announced the signing of two major financing agreements with Banque Misr. The signing ceremony was attended by Mr. Hisham Okasha, Chief Executive Officer of Banque Misr, and Dr. Hazem Darwish Zaqzouq, Chairman and Managing Director of Andalusia Group of Companies, In the presence of a distinguished group of banking leaders, including Mr. Ehab ElSewerky, Chief Executive Officer and Managing Director of Abu Dhabi Commercial Bank Egypt, Mr. Afdal Nagib Chief Executive Officer of Arab International Bank, along with the leadership team of Andalusia Health Group.

Banque Misr, in alliance with Abu Dhabi Commercial Bank Egypt (ADCB) and Societe Arabe Internationale de Banque (saib), has successfully arranged strategic financing amounting to EGP 3 billion and more than USD 35 million to establish and equip Andalusia October Hospital. The project is being developed on an area of 18,150 square meters, with a capacity of up to 225 beds and 50 outpatient clinics, positioning it as a smart medical landmark that will serve West Cairo in line with the highest international standards.
Commenting on the agreements, Mr. Hisham Okasha – Chief Executive Officer of Banque Misr, said:
“Banque Misr’s participation in these financings is an extension of our leading role in supporting vital sectors, foremost among them the healthcare sector, which is a key pillar of sustainable development. We are always keen to direct our resources towards projects that meet community needs and contribute to developing medical infrastructure, ensuring the best possible added value and enhancing citizens’ quality of life. This is supported by banking capabilities that are fully equipped to manage major financing transactions with the highest level of professionalism.”
Mr. Ihab ElSewerky, Chief Executive Officer and Managing Director of Abu Dhabi Commercial Bank Egypt, also affirmed that the bank’s participation in the syndicated financing comes as part of its commitment to supporting sustainable finance and projects with environmental and social impact. He noted that this contribution supports the development of the healthcare sector and Egypt Vision 2030, while further strengthening the bank’s sustainable finance portfolio.
Mr. Afdal Nageeb, Chief Executive Officer of saib, noted that the bank is participating as an arranger and main lender with a share of EGP 600 million and USD 10 million within a 10-year financing package, emphasizing the importance of the medical sector in supporting economic growth and stimulating the national economy.
Dr. Hazem Darwish Zaqzouq – Chairman and Managing Director of Andalusia Group, said:
“Today’s financing of our projects is a clear reflection of Banque Misr’s confidence in Andalusia Group’s integrated operating model and its ability to execute large-scale projects with high efficiency. The Andalusia October project represents a pivotal investment and a launchpad for an integrated healing environment built on advanced technology and smart design.”
In the same context, Banque Misr extended financing worth EGP 300 million and USD 6.5 million to fund the construction and medical expansion of Andalusia Maadi Hospital. The financing aims to add 70 new beds to meet growing demand and enhance the hospital’s capacity to provide integrated healthcare services in the area.
Dr. Hazem Darwish Zaqzouq also stated:
“Despite the logistical challenges we faced in the Maadi Expansion project, our integrated system and investment-driven mindset transformed these challenges into tangible reality through the innovative solutions developed by the Andalusia Health team. Most notably, this included establishing a prefabrication factory, which helped save a significant amount of time. We do not merely build walls; we invest in people and establish a healthcare system that connects design with operational efficiency from the outset to ensure the highest levels of performance.”
This partnership reaffirms Andalusia Health Group and Banque Misr’s commitment to advancing investment in the medical sector and transforming ambitious visions into tangible reality, contributing to building a healthier future for all Egyptians.