GCF GEFF Regional - Egypt II - Credit Agricole Egypt

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a senior unsecured loan to Credit Agricole Egypt S.A.E. ("CAE") of up to USD 20 million under the GCF GEFF Regional Egypt II framework ("GEFF"), of which up to USD 3 million is expected to be co-financed by the Green Climate Fund (GCF).

Project ID 54397

Status Signed

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

Company Contact Information

Tarek El-Teneb
tarek.el-teneb@ca-egypt.com
www.ca-egypt.com
364 (5th settlement) 11835 - New Cairo

Project ID 54397

Status Signed

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

30 Apr 2024

Disclosure date

03 May 2024

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."

GCF GEFF Regional - Egypt II - Credit Agricole Egypt (Arabic) (PDF, 0.33MB)

Project description

Project objectives

The project will enable CAE (i) to support Egyptian households and private MSMEs for their investments in climate change adaptation and mitigation projects in a gender-responsive way, which is of particular relevance in the context of the high energy intensity of Egypt's economy, and (ii) to accelerate the uptake of high performance technologies and services supporting a green economy in Egypt. Sub-borrowers will include individual households and micro, small and medium-sized enterprises (MSMEs)

Transition impact

ETI Score:75

The project supports the Green transition quality through the provision of funding and technical expertise to a financial intermediary to promote households and private sector MSMEs' investments in efficient climate change mitigation and adaptation technologies and services, accelerating the penetration of climate-reslient technologies, thereby supporting a green economy in Egypt.

Client information

CREDIT AGRICOLE EGYPT SAE

CAE is a subsidiary of the Credit Agricole Group. The bank has 83 branches and employs over 2,500 people across Egypt.

EBRD Finance Summary

USD 17,000,000.00

Total project cost

USD 20,000,000.00

Additionality

The project offers a combination of (i) long-term financing, (ii) technical assistance and (iii) incentive grants to the benefit of end-borrowers into a comprehensive package that promotes households and private sector investments in climate-resilient technologies and services.

Environmental & Social Summary

Categorised FI (ESP 2019): CAE will be required to comply with PRs 2, 4 & 9, and further, implement and comply with the relevant EBRD's Environmental & Social (E&S) Procedures. 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 Environmental and Social eligibility criteria for Renewable Energy and Energy Efficiency sub-projects. The Client will be required to submit annual reports to the Bank to monitor their E&S performance.

Technical Cooperation and Grant Financing

The project is expected to benefit from the support of the European Union in the form of (i) a comprehensive Technical Cooperation (TC) programme for project preparation, implementation, verification and monitoring and capacity-building for CAE and its customers, and (ii) incentive grants to end-borrowers to encourage the uptake of climate-resilient technologies and services.

Company Contact Information

Tarek El-Teneb
tarek.el-teneb@ca-egypt.com
www.ca-egypt.com
364 (5th settlement) 11835 - New Cairo

PSD last updated

03 May 2024

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

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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GCF GEFF Regional - Egypt II - Credit Agricole Egypt

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)