National Bank of Egypt - Skills in Business - Pilot

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 51385

Status Repaying

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

Project ID 51385

Status Repaying

Location

Egypt

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

27 Nov 2019

Disclosure date

24 Oct 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Arabic

Project Description

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.

Project Objectives

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.

Transition Impact

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.

Client Information

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

USD 20,000,000.00

Total Project Cost

USD 20,000,000.00

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.

Technical Cooperation

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").

Company Contact Information

Abbas Chams
AbbasChams@nbe.com.eg; inter-loans@nbe.com.eg
+ 20225945312
https://www.nbe.com.eg/
1187 Corniche El nil, Cairo, Egypt

Transition impact

ETI Score:67

PSD last updated

28 Nov 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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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