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
Business opportunities
For business opportunities or procurement, contact the client company.
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