FIF - NBK Egypt



Project number:


Business sector:

Financial institutions

Notice type:


Approval date:

06 Sep 2022



PSD disclosed:

04 Aug 2022

Project Description

Provision of a senior unsecured loan of up to USD 40 million to the National Bank of Kuwait S.A.E (NBKE) under the Financial Intermediaries Framework ("FIF"), to be on lent to eligible Micro small and medium enterprises ("MSMEs")

Project Objectives

The EBRD loan will support NBKE's lending activities and expand access to finance for the underserved MSME segment.

Transition Impact

ETI score: 60

Competitive:The project will support NBKE's lending to private MSMEs in Egypt, where the gaps in access to finance are High, with a focus on regional outreach and attracting new MSME clients.

Resilient: The project aims to ensure prudent lending practices and adequate portfolio quality. 

Client Information


The National Bank of Kuwait S.A.E is the 13th largest bank and 10th largest private bank in Egypt with assets that amount to EUR 4.2 billion as at H1 2022. As of March 2022, NBKE had a market share of 0.9%, 1.3% and 0.9% in terms of total assets, loans and deposits respectively. The Bank is a subsidiary of National bank of Kuwait, Kuwait's largest bank with over 30% in market share, which owns 99% of the shares.

EBRD Finance Summary

USD 40,000,000.00

USD  40,000,000

Total Project Cost

USD 40,000,000.00

USD  40,000,000


The loan offers a combination of longer-term financing than what is available in the market, and technical expertise dedicated to capacity building, in addition to a gender-based focus, into a package that promotes financing for MSMEs in Egypt.

Environmental and Social Summary

Categorised FI (2019 ESP). Under previous exposure, NBK Egypt has demonstrated compliance with PRs 2, 4 and 9. The Client will be required to continue to apply the EBRD's E&S Risk Management Procedures for the SME loan including the updated exclusion and newly introduced Referral List stemming from ESP 2019. NBKE's E&S performance will be monitored through the review of annual environmental and social reports to the Bank.

Technical Cooperation and Grant Financing

The loan will be accompanied by a TC component, supported by the EBRD Shareholder Special Fund, to further develop and improve NBKE's MSME lending policy and procedures. It will also help NBKE in the development and implementation of a credit-scoring model for MSME lending, later useful in the step towards digitalization for NBKE.

Company Contact Information

Karim Kamal

PSD last updated

04 Aug 2022

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 EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social 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 additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from 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 activities of the Bank 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 Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. 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 sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. 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 (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 to get guidance and more information on IPAM and how to submit a request.


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