FIF - Egypt WiB - CIB Loan

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

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.

Project ID 51148

Status Disbursing

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

Abla Fahmy
abla.hussein@cibeg.com
+(2) 01006634299
https://www.cibeg.com/
21/23 Charles de Gualle street, Giza, 10th floor

Project ID 51148

Status Disbursing

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Private

Approval Date

13 Dec 2023

Disclosure date

29 Apr 2022

FIF - Egypt WiB - CIB Loan (Arabic) (PDF, 0.69MB)

Project description

Project objectives

The EBRD loan will support CIB's lending activities and expand access to finance for underserved women-led SMEs.

Transition impact

ETI Score:80

re: 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.

Client information

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

EUR 19,050,340.52

USD 20,000,000

Total project cost

EUR 19,050,340.52

USD 20,000,000

Additionality

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 & 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

Abla Fahmy
abla.hussein@cibeg.com
+(2) 01006634299
https://www.cibeg.com/
21/23 Charles de Gualle street, Giza, 10th floor

PSD last updated

29 Apr 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 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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FIF - Egypt WiB - CIB Loan

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)