Cairo─ October 23─ CIB, Egypt's leading private-sector bank, has signed a credit facility with Flex Asepto Egypt, a subsidiary of U Flex Group, the world’s fastest-growing brand in aseptic liquid packaging. This financing supports the establishment of Egypt’s first sterile liquid filling plant. 

The Flex Asepto Egypt project aims to strengthen Egypt's economy and reduce the trade gap between imports and exports. It seeks to create new opportunities for industrial growth and increase Egyptian exports. This initiative is part of Egypt's national strategy to support local manufacturers and promote local production.

Commenting on the transaction, Mr. Amr El-Ganainy, Deputy CEO and Managing Director at CIB, said, “We are pleased to finance the Flex Asepto Egypt project, as this financing underscores CIB’s commitment to developing Egypt’s industrial sector. The project will enable Egypt’s manufacturing industry to compete on a global scale, promoting economic growth and sustainable development.”

Ashok Kumar, Founder and Chairman of U Flex Group, stated, “This project will positively contribute to the group’s expansion and support its growth potential. The signing of this credit facility is a testament to the group’s exceptional financial performance and robust cash flow.”

The signing ceremony took place in the presence of Mr. Amr El-Ganainy, Deputy CEO and Managing Director at CIB, Ms. Soha Abu Zekry, Head of Global Corporate Relations, and Ms. Abeer Essam, Head of Corporate Banking. Ashok Kumar, Founder and Chairman of U Flex Group, Hossam Heiba, Chairperson of the Investment and Free Zones Authority, and Ahmed Metwally, Vice Chairperson of the Economic Authority for the Southern Suez Canal Zone were also present.