Provision of a senior unsecured loan of up to USD 10 million to Export Development bank of Egypt (EBE) for on-lending to private small and medium-sized enterprises (SMEs) in Egypt
The EBRD loan will support EBE's SME lending activities and expand access to finance for underserved SMEs in Egypt.
ETI score: 60
- Competitive: the project will support the SME portfolio expansion, with a focus on reaching regional clients and attracting new clients.
- Resilient: the project aims to ensure prudent lending practices and adequate portfolio quality.
EXPORT DEVELOPMENT BANK OF EGYPT
Export Development Bank of Egypt is the 14th largest bank in Egypt by assets (USD 4.5bn as of June 2021). The bank has market shares of approximately 0.9%, 1.3%, and 1% by assets, loans, and deposits respectively as of June 2021. EBE is listed on the Egyptian Stock Exchange, with majority state-ownership and ca. 25% free float.
EBRD Finance Summary
Total Project Cost
The project will enable EBE to increase availability of medium-term funding for SMEs in Egypt, which remain underserved and support the bank's competitiveness through reaching new clients and regions outside of Greater Cairo and Alexandria.
Environmental and Social Summary
- Categorised FI (ESP 2019). EBE is a new Client to the Bank and an Environmental and Social Due Diligence (ESDD) was undertaken via the review of a completed targeted questionnaire.
- ESDD has shown that the Client is compliant with PRs 2 and 4 related to labour management and Health and Safety, and has some elements pertaining to environmental risk management of its portfolio; such as confirming national E&S requirements are met.
- The Client will be required to implement EBRD's E&S Risk Management Procedures for Micro, SME and Corporate Lending, and conducts its business in line with PRs 2, 4, and 9.
- EBE's E&S performance will be monitored through the review of annual reports.
Technical Cooperation and Grant Financing
Company Contact Information
Yasmin Medhat Sabri
(+202) 28101512| Ext.: 51623
78, South Teseen Road 5th District, New Cairo Egypt P.O Box : 22 Post Code : 11835
PSD last updated
18 Nov 2021
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Access to Information Policy (AIP)
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. 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 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; how to submit a Request for review; or contact IPAM via email firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.