Translated version of this PSD: Arabic
Provision of a senior loan to National Bank of Egypt ("NBE") of up to USD 20 million for on-lending to local private high growth Small and Medium Enterprises ("SMEs"), which commit to strengthening their capacity to train and retain skilled labour, in particular youth.
The project will address labour force skills mismatch, which constrains businesses in their growth, and create better and more sustainable jobs, including for young people. This will be achieved by incentivising enterprises to increase their capacity to effectively recruit, train and retain skilled labour. It is expected to ultimately improve young people's employability and ensure a supply of skilled workers for businesses, essential to support expansion plans.
The project will contribute towards building a more inclusive job market by expanding access to skills and employment opportunities, including for young people, who are faced with reduced access to such economic opportunities. The project will also contribute towards a more competitive private sector through developing the capacity of clients to better recruit, train and retain skilled workforce.
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. NBE 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 ("TC") components: (1) Capacity building for NBE that aims to assist with programme implementation, marketing and general awareness raising, training, and pipeline development ; and (2) Advisory services will be provided via EBRD Advice for Small Businesses Programme to financed enterprises to improve their capacity to train and retain skilled labour, including through work-based learning ("WBL") programmes and talent management tools. The technical cooperation is expected to be funded by the grant resources from the EBRD Shareholder Special Fund ("SSF").
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Text of the PIP
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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.