QNB AlAhli - GEFF Egypt, GCF GEFF, Value Chain

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 50985

Status Complete

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 50985

Status Complete

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

24 Jul 2019

Disclosure date

15 May 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Arabic

Project Description

Provision of a financing package of up to USD 70 million to QNB AlAhli Bank SAE.

The facility will comprise:

i. a senior loan of up to USD 20 million under the Egypt Green Energy Financing Facility ("EgyptGEFF");

ii. a senior loan of up to USD 20 million under the regional GCF GEFF, of which up to USD 5 million is expected to be co-financed by the Green Climate Fund under the same conditions;

iii. a senior loan of up to USD 30 million value chain financing composed of (i) a loan under the Green Value Chain framework, of which up to USD 7.5 million is expected to be co-financed by Green Climate Fund under the same conditions, and/or (ii) a loan for on-lending to private small and medium enterprises.

Project Objectives

The EBRD loan will enable QNB AlAhli (i) to support on-lending to private sub-borrowers for green, Energy Efficiency (EE) and Renewable Energy (RE) projects, which are of particular relevance in the context of high energy intensity of the Egyptian economy, and (ii) to support high performance technologies and services supporting a green economy and boosting the competitiveness of Small and Medium Enterprises (SMEs) part of a value chain.

Transition Impact

The loan under GEFF will enable QNB AlAhli i) to provide funding to Egyptian private eligible beneficiaries to finance green, small RE and EE projects in the private sector and ii) to finance its excess pipeline under its first Egypt Sustainable Energy Financing Facility.

The value chain financing will enable QNB AlAhli to support high performance technologies and services supporting a green economy and boost the competitiveness of SMEs as part of a value chain.

Client Information

QATAR NATIONAL BANK ALAHLI SAE

QNB ALAHLI SAE is the fourth largest commercial bank in Egypt. The bank has a market share of 5-8% by assets, loans and deposits.

EBRD Finance Summary

USD 20,000,000.00

Up to USD 57.5 million

Senior unsecured loan of up to USD 70 million, out of which up to USD 12.5 million is expected to be co-financed by GCF.

Total Project Cost

USD 20,000,000.00

Up to USD 70 million to be provided in USD

Environmental and Social Summary

GEFF and GVC lines

Category FI (2014 ESP). QNB AlAhli is an existing client and will be required to continue to comply with PRs 2, 4 and 9 apply the EBRD's E&S Risk Management Procedures for Corporate and SME loans and submit annual environmental and social reports to the Bank. All projects under the Green Economy Financing Facility (GEFF) will be required to comply with the national environment, health and safety and labour regulations and standards as well as the E&S eligibility criteria for RE and EE sub-projects.

FIF SME line

Category FI (2014 ESP). QNB AlAhli is an existing client and will be required to continue to comply with PRs 2, 4 and 9 apply the EBRD's E&S Risk Management Procedures for Corporate and SME loans and submit annual environmental and social reports to the Bank. Sub-borrowers financed through this loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.

Technical Cooperation

QNB AlAhli is expected to benefit from the support of the grant resources from the EBRD Shareholder Special Fund ("SSF"). Donor funds will support a comprehensive technical assistance programme to provide implementation support to QNB AlAhli and its customers, and ii) verification of the outcome of completed projects. Grants are expected to provide investment incentives to QNB AlAhli and end borrowers.

Company Contact Information

Sally HAMDALLA
Sally.HAMDALLA@QNBALAHLI.COM
+20227707321
+20 227707799
www.qnbalahli.com
QNB ALAHLI Dar Champollion, 5 Champollion st. down town P.O.Box 2664, Cairo Egypt

Transition impact

ETI Score:75

PSD last updated

25 Nov 2019

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Public Information Policy (PIP)

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Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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