SERV is covering a loan for Cotton, Spinning, Weaving & Garment Holding, for financing delivery and commissioning of spinning and weaning machinery for the modernisation by the borrower of its various plants across Egypt.The Government of the Arab Republic of Egypt is in the process of modernizing the country’s cotton and textile industry. Part of this overall project is the renewal of the machinery park of state owned integrated textile and apparel producer Cotton, Spinning, Weaving & Garment Holding CO. For that purpose, several specialized Swiss cotton processing and textile machinery manufacturers were selected to procure state of the art technology. The project is the most important project within the last decade for the Swiss Textile Machinery manufacturers. Covered by a Ministry of Finance Guarantee from the Arab Republic of Egypt allowed to structure the financing under a SERV covered ECA tranche, providing attractive financing conditions.The following exporters are included: Maschinenfabrik Rieter AG, Toyota Textile Europe, Uster Technologies AG, Karl Mayer Textilmaschinen AG, Benninger AG, Stäubli Sargans AG, Luwa Air Engineering AG and Jebsen & Jessen Industrial Solutions AG. Jebsen & Jessen industrial Solutions acts as packager to consolidate several smaller suppliers to the Project.Given the absence of a general contractor in this project, a solution to cover 87 individual supply contracts in three different currencies had to be developed. Additionally, deliveries are made to seven productions sites of CTIHC across Egypt, each with individual environmental and social requirements, as well as individual commissioning dates. Due to the close cooperation between all parties and despite headwinds during the pandemic (negotiation, implementation and signing ceremony were fully facilitated via video calls) a solution within a single Facility Agreement and a single Guarantee provided by the Ministry of Finance of the Arab Republic of Egypt reached financial close on 20 June 2022 and SERV insurance policies were issued up to December 2022. Delivery timing and disbursements out of the financing directly to the exporters are facilitated with tailor made letter of credits which are new in this form to the Egyptian market.This is a landmark transaction especially for the overall textile industry that has long been using ECA supported financings but never on this scale (the Mehalla site will host the largest yarn spinning factory in the world).The SERV ECA cover & financing absorbs substantial complexity considering 87 individual supply contracts in three different currencies with deliveries to seven sites across Egypt each with individual environmental and social requirements.The state of the art machinery delivered from several renown Swiss manufacturers will substantially reduce energy consumption while significantly increasing output whereby providing skilled employment opportunities across Egypt.