Ahmed Haggag
Partner
Fax
(+202) 2322 5401
Languages
Arabic, English


Ahmed Haggag has over fifteen years of experience in the banking & finance practice. He started his career as a junior associate with Sharkawy & Sarhan in 2007 and became a partner on 1 January 2015.
He was seconded to Clifford Chance Dubai for a period of six months during 2011. Ahmed’s Banking and Finance practice focuses on project finance, M&A and oil & gas.
Ahmed was also selected by Chambers Global from 2018 to 2023 as a Band 2 leading lawyer for his experience in Projects & Energy sector and Banking & Finance practice and by the IFLR1000 from 2014 to 2023 as a leading/highly regarded lawyer.
With a business mind and pragmatic approach, Ahmed is the trusted legal adviser and regularly acts on market leading complex transactions that often have a cross-border aspect for key DFIs, export credit agencies and commercial banks.
Ahmed is the trusted legal adviser and regularly acts on market leading complex transactions that often have a cross-border aspect for key DFIs, export credit agencies and commercial banks.
More recently, Haggag advised the European Bank for Reconstruction and Development (EBRD) in respect of Egypt’s first green hydrogen facility in the Suez Canal Economic Zone and the first fully integrated green hydrogen plant in Africa. This ground-breaking transaction involved a USD 80 million loan from the EBRD to Egypt Green, which is owned built and operated by Fertiglobe, Scatec ASA, Orascom Construction PLC Construction and The Sovereign Fund of Egypt. This is a testament to our involvement in ground-breaking and innovative transactions in Egypt acting for a key party to the transaction.
Related Sectors
Related Practice Areas
Representative Experience
The European Bank for Reconstruction and Development (EBRD) on its landmark $100 million loan agreement with the National Bank of Egypt (NBE).
This transaction aims to channel essential resources to micro, small, and medium-sized enterprises (MSMEs), with a strong emphasis on supporting youth-led initiatives and women entrepreneurs. By empowering these segments of the private sector, the deal strengthens Egypt’s economic resilience and fosters inclusive growth nationwide.
EBRD as lender’s local counsel, on all Egyptian law aspects in relation to (a) a tier II loan of up to USD 150 million granted to the Commercial International Bank (Egypt) CIB S.A.E; (b) the regulatory framework applicable to subordinated loans in Egypt and, in particular, the legal and regulatory requirements for Tier 2 capital treatment and the restrictions on lenders’ right under a Tier 2 loan; (c) The validity of a use of proceeds clause in a Tier 2 loan; and (d)The applicable bail in regime of a Tier 2 loan.
EBRD on its USD 20 million (EUR 18 million) loan agreement to ALEXBANK, part of the Intesa Sanpaolo Group’s International Banks Division.
EBRD on its first $25 million green financing package with Egypt’s Suez Canal Bank (SCB). This transaction will expand green trade finance and enhance private-sector access to climate-linked loans – supporting MSMEs and households investing in climate adaptation and mitigation technologies as well as strengthen Egypt’s financial ecosystem and advance inclusive, climate-resilient development.
EBRD on all Egyptian law aspects in relation to the USD 20 million loan granted to Credit Agricole Egypt. The loan is provided for the purpose of assisting in green economy investments and financing sub-loan loans to Credit Agricole Egypt’s clients.
EBRD on all Egyptian law aspects in relation to the USD 130 million loan granted to Coca-Cola HBC Egypt to finance capital expenditure and working capital needs in Egypt.
The European Investment Bank (EIB) on all Egyptian law aspects in relation to a loan granted to the Arab Republic of Egypt acting through the Central Bank of Egypt and the Egyptian National Railway as beneficiary. The financing is provided for the purpose of upgrading the 119 KM Tanta-El Mansoura-Damietta railway line.
The project scope includes the upgrading of the double-track section Tanta-El Mansoura (54 km), the doubling of the single-track section El Mansoura-Damietta (65 km) and the re-signaling of the whole Tanta-El Mansoura-Damietta railway line including the purchase of railway maintenance machines to be used on the Egyptian railway network, including the Tanta-El Mansoura-Damietta line.”
Dutch Entrepreneurial Development Bank (FMO) on a USD 25mln loan to Mediterraneo which will support ongoing growth of the company. Proceeds will be used for financing working capital needs and capital expenditure required for the construction of their new processing facility and distribution center in Egypt, which will be focusing on staple commodities.
The National Egyptian Railway Industries Company (NERIC) in relation to the EGP 5,000,000,000 syndicated financing granted by the National Bank of Egypt (NBE), Commercial International Bank (CIB Egypt), and Arab African International Bank (AAIB). The NERIC factory in East Port Said, covering 300,000 square meters across three phases, will produce various railway rolling stock, including metro, monorail, and high-speed trains.
European Bank for Reconstruction and Development (EBRD) and Council of the European Union in Egypt on a significant €10.6 million financing deal to support GoBus Transportation in launching Egypt’s first inter-city electric bus fleet.
This transaction, supported by the SEMED Multi-Donor Account, represents a major step forward in promoting sustainable mobility across Egypt’s governorates. The introduction of the new electric buses will offer passengers cleaner, quieter, and safer travel options, leading to reduced emissions and establishing a model for eco-friendly infrastructure in the region.
IFC in relation to the Egyptian law aspects of the Murabaha facility granted to be provided under the Real Sector Crisis Envelope of the IFC Fast Track COVID-19 Facility to Egyptian Saudi Healthcare Company (the Company) to fund the Company’s capex as well as the growing long-term working capital needs during COVID-19 outbreak (the Project).
EBRD, the International Finance Corporation (IFC) and the British International Investment (BII), on matters of Egyptian Law in relation to the issuance of Egypt’s first and Africa’s largest Sustainable Development Bond Program amounting to U$500 million by AAIB.
EBRD on the provision of a senior unsecured loan of up to EGP 80 million to Reefy Microfinance Enterprise Services (Reefy), Egypt’s first licensed #microfinance institution. The loan will be provided under the EBRD’s Women in Business program. It will be used to support privately owned micro, small and medium-sized enterprises (MSMEs) that are owned by women, especially in governorates other than Greater Cairo and Alexandria.
Giza systems on all Egyptian law aspects in relation to the Sharia compliant financing granted from Abu Dhabi Islamic Bank and other participating banks. The purpose of the deal is to finance the borrower’s working capital needs and refinancing the borrower’s existing short-term loans, overdrafts, factoring, and leasing facilities.
IFC on the financing of Edita including conducting a limited due diligence on Edita and its subsidiaries in Egypt, reviewing a draft of the loan agreement and the guarantee agreements prepared by IFC, advising on local issues, and issuing an opinion confirming that the transaction documents are valid and enforceable in Egypt.
EIB on matters of Egyptian law in relation to the EUR15mn Investment Grant Agreement and the EUR16,876mn Grant Agreement granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Kafr El-Sheikh Water Supply and Sanitation Company for technical assistance and investment in infrastructure through the wastewater treatment project in Kafr El-Sheikh governorate.
EBRD as lender’s local counsel, in relation to the USD12mn loan for the development of a new hotel in West Cairo, serving the Grand Egyptian Museum and Great Giza Pyramids. The loan is to Al Dau Al Haram for Hotels Operations SAE, a company established in Egypt to develop and operate the Hyatt Regency hotel within the Pyramids Heights Business Park in West Cairo. The company is part of the Al Dau Development group of companies active in the hospitality sector in Egypt and the UK.
EBRD on matters of Egyptian law in relation to a session secured loan of up GBP2.3mn granted to El Roda Company for Agricultural Development S.A.E.
Banque Misr on matters of Egypt law in relation to the Revolving Credit agreement and issuing bank agreement concluded with EBRD.
EBRD as lender’s local counsel, in relation to the USD 10 million loan to TAQA PV for Solar Energy, the renewable energy arm of TAQA Arabia. The loan will finance the construction of a 6 MW solar photovoltaic plant to supply power to the dairy producer, Dina Farms in one. of Egypt’s first private-to-private renewable energy projects.
CDB on matters of Egyptian law in relation to the USD8bn term facility granted to NBE.
EBRD in respect of Egypt’s first green hydrogen facility in the Suez Canal Economic Zone and the first fully integrated green hydrogen plant in Africa.
This transaction involved a USD 80 million loan from the EBRD to Egypt Green which is owned built and operated by Fertiglobe, Scatec ASA, Orascom Construction and the Sovereign Wealth Fund of Egypt.
Once the facility is fully operational and at full capacity, it will deliver up to 15,000 tons of green hydrogen and save 130,000 of CO2 emissions yearly. The green hydrogen is intended to be used as feedstock for the production of green ammonia both for local use and export. This is a major step towards the decarbonization of Egypt’s carbon- intensive industries and illustrates the importance that the Egyptian Government gives to significantly reducing carbon emissions.
EBRD on Egypt’s first sustainability-linked loan, a landmark US$100 million facility extended to Banque Misr.
This financing will enable Banque Misr to make more financing available to local women-led or owned micro, small and medium-sized enterprises (MSMEs), as well as to low-income individuals for affordable housing.
Education and Memberships
- LLB, Cairo University, English Section, qualified in 2007.

Ahmed Haggag
Partner
Email:
Phone: (+202) 2322 5400 Ext. (113)
Fax: (+202) 2322 5401
Languages: Arabic, English
Related Practice Areas: Banking & Finance, Mergers & Acquisitions and Commercial
Ahmed Haggag has over fifteen years of experience in the banking & finance practice. He started his career as a junior associate with Sharkawy & Sarhan in 2007 and became a partner on 1 January 2015.
He was seconded to Clifford Chance Dubai for a period of six months during 2011. Ahmed’s Banking and Finance practice focuses on project finance, M&A and oil & gas.
Ahmed was also selected by Chambers Global from 2018 to 2023 as a Band 2 leading lawyer for his experience in Projects & Energy sector and Banking & Finance practice and by the IFLR1000 from 2014 to 2022 as a leading/highly regarded lawyer. With a business mind and pragmatic approach.
With a business mind and pragmatic approach, Ahmed is the trusted legal adviser and regularly acts on market leading complex transactions that often have a cross-border aspect for key DFIs, export credit agencies and commercial banks.
More recently, Haggag advised The European Bank for Reconstruction and Development (EBRD) in respect of Egypt’s first green hydrogen facility in the Suez Canal Economic Zone and the first fully integrated green hydrogen plant in Africa. This ground-breaking transaction involved a USD 80 million loan from the EBRD to Egypt Green, which is owned built and operated by Fertiglobe, Scatec ASA, Orascom Construction PLC Construction and The Sovereign Fund of Egypt. This is a testament to our involvement in ground-breaking and innovative transactions in Egypt acting for a key party to the transaction.
Representative Experience
The European Bank for Reconstruction and Development (EBRD) on its landmark $100 million loan agreement with the National Bank of Egypt (NBE).
This transaction aims to channel essential resources to micro, small, and medium-sized enterprises (MSMEs), with a strong emphasis on supporting youth-led initiatives and women entrepreneurs. By empowering these segments of the private sector, the deal strengthens Egypt’s economic resilience and fosters inclusive growth nationwide.
The European Bank for Reconstruction and Development (EBRD) on its USD 20 million (EUR 18 million) loan agreement to ALEXBANK, part of the Intesa Sanpaolo Group’s International Banks Division.
The European Bank for Reconstruction and Development (EBRD) on all Egyptian law aspects in relation to the USD 20 million loan granted to Credit Agricole Egypt. The loan is provided for the purpose of assisting in green economy investments and financing sub-loan loans to Credit Agricole Egypt’s clients.
EBRD on all Egyptian law aspects in relation to the USD 20 million loan granted to Credit Agricole Egypt. The loan is provided for the purpose of assisting in green economy investments and financing sub-loan loans to Credit Agricole Egypt’s clients.
The European Investment Bank (EIB) on all Egyptian law aspects in relation to a loan granted to the Arab Republic of Egypt acting through the Central Bank of Egypt and the Egyptian National Railway as beneficiary. The financing is provided for the purpose of upgrading the 119 KM Tanta-El Mansoura-Damietta railway line.
The project scope includes the upgrading of the double-track section Tanta-El Mansoura (54 km), the doubling of the single-track section El Mansoura-Damietta (65 km) and the re-signaling of the whole Tanta-El Mansoura-Damietta railway line including the purchase of railway maintenance machines to be used on the Egyptian railway network, including the Tanta-El Mansoura-Damietta line.
EBRD and Council of the European Union in Egypt on a significant €10.6 million financing deal to support GoBus Transportation in launching Egypt’s first inter-city electric bus fleet.
This transaction, supported by the SEMED Multi-Donor Account, represents a major step forward in promoting sustainable mobility across Egypt’s governorates. The introduction of the new electric buses will offer passengers cleaner, quieter, and safer travel options, leading to reduced emissions and establishing a model for eco-friendly infrastructure in the region.
Dutch Entrepreneurial Development Bank (FMO) on a USD 25mln loan to Mediterraneo which will support ongoing growth of the company. Proceeds will be used for financing working capital needs and capital expenditure required for the construction of their new processing facility and distribution center in Egypt, which will be focusing on staple commodities.
EBRD on its first $25 million green financing package with Egypt’s Suez Canal Bank (SCB). This transaction will expand green trade finance and enhance private-sector access to climate-linked loans – supporting MSMEs and households investing in climate adaptation and mitigation technologies as well as strengthen Egypt’s financial ecosystem and advance inclusive, climate-resilient development.
EBRD on Egypt’s first sustainability-linked loan, a landmark US$100 million facility extended to Banque Misr.
This financing will enable Banque Misr to make more financing available to local women-led or owned micro, small and medium-sized enterprises (MSMEs), as well as to low-income individuals for affordable housing.
EBRD in respect of Egypt’s first green hydrogen facility in the Suez Canal Economic Zone and the first fully integrated green hydrogen plant in Africa.
This transaction involved a USD 80 million loan from the EBRD to Egypt Green which is owned built and operated by Fertiglobe, Scatec ASA, Orascom Construction and the Sovereign Wealth Fund of Egypt.
Once the facility is fully operational and at full capacity, it will deliver up to 15,000 tons of green hydrogen and save 130,000 of CO2 emissions yearly. The green hydrogen is intended to be used as feedstock for the production of green ammonia both for local use and export. This is a major step towards the decarbonization of Egypt’s carbon- intensive industries and illustrates the importance that the Egyptian Government gives to significantly reducing carbon emissions.
The National Egyptian Railway Industries Company (NERIC) in relation to the EGP 5,000,000,000 syndicated financing granted by the National Bank of Egypt (NBE), Commercial International Bank (CIB Egypt), and Arab African International Bank (AAIB). The NERIC factory in East Port Said, covering 300,000 square meters across three phases, will produce various railway rolling stock, including metro, monorail, and high-speed trains.
The European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC) and the British International Investment (BII), on matters of Egyptian Law in relation to the issuance of Egypt’s first and Africa’s largest Sustainable Development Bond Program amounting to U$500 million by AAIB.
Giza systems on all Egyptian law aspects in relation to the Sharia compliant financing granted from Abu Dhabi Islamic Bank and other participating banks. The purpose of the deal is to finance the borrower’s working capital needs and refinancing the borrower’s existing short-term loans, overdrafts, factoring, and leasing facilities.
EBRD as lender’s local counsel, on all Egyptian law aspects in relation to (a) a tier II loan of up to USD 150 million granted to the Commercial International Bank (Egypt) CIB S.A.E; (b) the regulatory framework applicable to subordinated loans in Egypt and, in particular, the legal and regulatory requirements for Tier 2 capital treatment and the restrictions on lenders’ right under a Tier 2 loan; (c) The validity of a use of proceeds clause in a Tier 2 loan; and (d)The applicable bail in regime of a Tier 2 loan.
IFC on the financing of Edita including conducting a limited due diligence on Edita and its subsidiaries in Egypt, reviewing a draft of the loan agreement and the guarantee agreements prepared by IFC, advising on local issues, and issuing an opinion confirming that the transaction documents are valid and enforceable in Egypt.
The European Investment Bank (EIB) on matters of Egyptian law in relation to the EUR15mn Investment Grant Agreement and the EUR16,876mn Grant Agreement (the “Grant Agreements”) granted to the Arab Republic of Egypt, the Ministry of Housing Utilities and Urban Communities, the Holding Company for Water and Kafr El-Sheikh Water Supply and Sanitation Company for technical assistance and investment in infrastructure through the wastewater treatment project in Kafr El-Sheikh governorate.
IFC on its potential subscription in Egypt’s first regulated green bonds’ issuance by CIB.
EBRD as lender’s local counsel, in relation to the USD12mn loan for the development of a new hotel in West Cairo, serving the Grand Egyptian Museum and Great Giza Pyramids. The loan is to Al Dau Al Haram for Hotels Operations SAE, a company established in Egypt to develop and operate the Hyatt Regency hotel within the Pyramids Heights Business Park in West Cairo. The company is part of the Al Dau Development group of companies active in the hospitality sector in Egypt and the UK.
Banque Misr on matters of Egypt law in relation to the Revolving Credit agreement and issuing bank agreement concluded with EBRD.
EBRD on matters of Egyptian law in relation to a session secured loan of up GBP2.3mn granted to El Roda Company for Agricultural Development S.A.E.
China Development Bank (CDB) on matters of Egyptian law in relation to the USD800mn term facility granted to NBE.
IFC in relation to the Egyptian law aspects of the Murabaha facility granted to be provided under the Real Sector Crisis Envelope of the IFC Fast Track COVID-19 Facility to Egyptian Saudi Healthcare Company (the Company) to fund the Company’s capex as well as the growing long-term working capital needs during COVID-19 outbreak (the Project).
Education and Memberships
- LLB, Cairo University, English Section, qualified in 2007.
Insights
Insights
“‘Ahmed Haggag and Raghda ElQabbage are our primary contacts and deliver the service we need.”
“The team is led by Ahmed Haggag, who regularly acts on complex financing transactions for major develoment finance institutions, export credit agencies and commercial banks.”
“An excellent and responsive team that offers pragmatic solutions.”
“I have known and worked with Ahmed for many years and he is always great with clients and very commercial and proactive.”
“He is technically competent, professional, commercially minded and always available and cooperative.”
“Switched on and practical.”
“Ahmed is always available, well prepared and able to deal with a variety of legal issues while working to find commercial solutions.”
“Ahmed is engaging and effective and ensures the ultimate client is satisfied.”
“Ahmed Haggag is Excellent; he has done an amazing job with us for the past 2.5 years. Absolutely amazing, very responsive, his advice always makes sense, to the point, no long memos. The advice is always on point. The thing I like most is the consistency in keeping the same standard of work.”
“Local counsels usually tend to hide some information from their clients; however I never found that with Ahmed Haggag, he is also always taking initiative.”
“‘Ahmed Haggag and Raghda ElQabbage are our primary contacts and deliver the service we need.’“
“An excellent and responsive team that offers pragmatic solutions.“
“The team is led by Ahmed Haggag, who regularly acts on complex financing transactions for major development finance institutions, export credit agencies and commercial banks.“
“He is technically competent, professional, commercially minded and always available and cooperative.“
“I have known and worked with Ahmed for many years and he is always great with clients and very commercial and proactive.“
“Switched on and practical.”
“Ahmed is always available, well prepared and able to deal with a variety of legal issues while working to find commercial solutions.”
“Ahmed is engaging effective and ensures the ultimate client is satisfied”
“Ahmed Haggag is Excellent; he has done an amazing job with us for the past 2.5 years. Absolutely amazing, very responsive, his advice always makes sense, to the point, no long memos. The advice is always on point. The thing I like most is the consistency in keeping the same standard of work”
“Local counsels usually tend to hide some information from their clients; however I never found that with Ahmed Haggag, he is also always taking initiative”