Provision of a senior unsecured loan to Ahli United Bank Egypt ("AUBE") of up to USD 12 million (EBRD financing of USD 9 million and GCF co-financing of up to USD 3 million) for on-lending to private small and medium-sized enterprises ("SMEs") within certain value chains for capex investments in climate change mitigation and adaptation technologies and services.
The proceeds of the loan will be on-lent to private SMEs within certain value chains (in such sectors as agribusiness, manufacturing and services, and information and communication technologies ("ICT")) for capex investments in climate change mitigation and adaptation technologies and services.
ETI score: 75
The transition impact of the project will draw on the increased funding to SMEs in value chains to finance capex loans and enhance SME competitiveness in high performance technologies.
AHLI UNITED BANK EGYPT SAE
AUBE is the 18th largest bank in Egypt (out of 38 currently operating) with total assets of USD 3.7bn as of 1Q2021 and market shares of ca. 0.8%, 1.2% and 0.9% in terms of assets, loans and deposits, respectively. AUBE is 95.7% owned by Ahli United Bank ("AUB"), the largest bank in Bahrain.
EBRD Finance Summary
Total Project Cost
The project will offer a combination of medium-term financing and technical expertise in a package that promotes targeted investment in climate change mitigation and adaptation technologies and services in Egypt.
Environmental and Social Summary
Categorised FI (ESP 2019): AUBE will be required to comply with PRs 2, 4 & 9, and further, implement and comply with EBRD's Environmental & Social (E&S) Procedures and the applicable Risk Management Procedures for SME and Corporate Lending. AUBE will also be required to submit annual environmental and social reports to the Bank. The client will receive guidance from the EBRD on the implementation of the applicable Risk Management Procedure.
Technical Cooperation and Grant Financing
The project will be supported by comprehensive technical assistance in the form of trainings, capacity building and support for project implementation from the dedicated programme consultant.
Company Contact Information
Omnia Kamal, FI Manager
+20 100 521 6640
81 El-Tesseen Street, Sector A, Fifth Settlement, Cairo, Al Qahirah 11835, Egypt
PSD last updated
13 Aug 2021
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
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