Provision of a senior unsecured debt facility of USD 20 million to the Commercial International Bank S.A.E (CIB) for on-lending to local private women-led small and medium-sized enterprises (SMEs) in Egypt.
The EBRD loan will support CIB's lending activities and expand access to finance for underserved women-led SMEs.
ETI score: 80
ETI Score: 80
- Inclusive: The project aims to increase lending to the under-served segment of women-led SMEs in Egypt. It will also help the client in establishing their capacity across the segment and positioning themselves with a unique business model for engaging with women entrepreneurs.
- Competitive:The project aims to reinforce the client's SME lending practices, with a specific focus on women-led SMEs.
COMMERCIAL INTERNATIONAL BANK SAE
CIB is the largest private bank in Egypt with total consolidated assets of USD 32 billion as of December 2021.
EBRD Finance Summary
Total Project Cost
The Women-in-Business (WiB) loan offers a combination of longer-term financing than what is available in the market and technical expertise into a package that promotes financing for women-led SMEs in Egypt.
Environmental and Social Summary
Categorised FI (2019). CIB is an existing client of the Bank and has been satisfactorily implementing the Bank's E&S requirements under existing exposure. The bank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, apply the EBRD's relevant E&S Risk Management Procedures including the updated exclusion and newly introduced Referral List stemming from EBRD's 2019 E&S Policy. CIB's E&S performance will be monitored through the review of annual reports. The Project is consistent with the GET approach, with a GET share of 100%.
Technical Cooperation and Grant Financing
The TC programme is for USD 350,000 and will be supported by the EBRD Shareholder Special Fund and EU NIF SEMED Financial Inclusion Programme. Cost-sharing will include parallel and in-kind contributions in accordance with EBRD policies (BDS10-249 (Rev 2)).CIB will be expected to contribute towards the costs of the TC as per the EBRD Client Contribution Policy. Additionally, first-loss risk cover of up to 10% of the disbursed WiB sub-loan portfolio to be provided to CIB.
Company Contact Information
21/23 Charles de Gualle street, Giza, 10th floor
PSD last updated
29 Apr 2022
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Independent Project Accountability Mechanism (IPAM)
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