The EBRD is considering a financing package of up to USD 80 million to the National Bank of Egypt.
The facility will comprise of (i) a senior loan of up to USD 30 million for on-lending to private small and medium-sized enterprises (“SMEs”); (ii) a USD 20 million pilot Women–in-Business facility (WiB) to support women-led SMEs; and (iii)a facility of up to USD 30 million for on-lending to private sub-borrowers for energy efficiency and renewable energy projects.
The SME loan will increase the availability of finance to private SMEs supporting an increased number of SMEs - a largely underserved and important segment - gaining access to bank credit.
The ultimate goal of the WiB programme is to promote women’s entrepreneurship and more broadly, their participation in the economy. The WiB facility will pilot the first comprehensive programme of its kind in Egypt combining dedicated financing for women-led SMEs with technical assistance for capacity building to both the financial intermediary and end-borrowers.
The energy efficiency facility will pilot the first dedicated sustainable energy efficiency facility (‘SEFF’) in Egypt with a commercial bank leveraging EBRD’s successful track record in structuring and implementing similar facilities in the past ten years in other countries. Promoting sustainable energy investments by private companies is of particular relevance at present in the context of the current subsidy reforms in Egypt.
NBE is the largest commercial bank in Egypt wholly owned by the Government of Egypt. With total assets of EUR 45 billion, NBE has a market share of 21-27% by assets, loans and deposits.
SME Loan: up to USD 30 million.
Up to USD 80 million senior debt to be provided in USD.
Categorised FI. NBE will be required to comply with the EBRD's Performance Requirements 2 & 9 and the EBRD’s Environmental and Social Procedures for Small and Micro Loans and Environmental and Social Procedures for Corporate Loans. This will include adherence to the EBRD's Environmental and Social Exclusion Lists and submission of annual environmental and social reports to the Bank.
The SME facility will benefit from a technical cooperation project aimed at transferring best practices, knowledge and skills in SME lending, with an estimated budget of EUR 700,000 funded by the EBRD’s SEMED Multi-Donor Account and EBRD’s SEMED cooperation funds account.
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