Translated version of this PSD: Arabic
Provision of a senior unsecured loan to National Bank of Egypt ("NBE") of up to USD 30 million, under the Egypt Youth in Business ("EgyptYiB") programme. The proceeds of the loan will be on-lent to local private enterprises that are led or owned by youth.
The project is expected to increase the pool of financing availabe to young individuals in Egypt and
to help this group of borrowers to build their skill-set and develop their businesses, thereby promoting
youth entrepreneurship and youth's participation in business through an integrated approach.
The project is expected to increase the pool of financing availabe to young individuals in Egypt and to help this group of borrowers to build their skill-set and develop their businesses, thereby promoting youth entrepreneurship and youth's participation in business through an integrated approach.
NATIONAL BANK OF EGYPT
NBE is the largest commercial bank in Egypt wholly owned by the Government of Egypt. With total assets of EUR 78 billion as at December 2018, NBE has a market share of 26-30% by assets, loans and deposits.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (2014). NBE has been satisfactorily implementing the Bank's E&S requirements under existing exposure and has submitted Annual Environmental Report for 2015. The bank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, apply the EBRD's E&S Risk Management Procedures for SME and Micro Loans and report annually to the EBRD on implementation of the Procedures and the PRs.
The project will be accompanied by the following Technical Cooperation components: (1) capacity building for NBE that aims to assist with the product implementation, marketing and general awareness raising, training and pipeline development; and (2) Capacity building to the enterprises in the form of trainings and mentoring, with the aim to strengthen entrepreneurial skills and mind-set via EBRD's Advice for Small Businesses programme. The technical cooperation is expected to be funded by the grant resources from the EBRD Shareholder Special Fund ("SSF")
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