Provision of a senior unsecured loan to QNB ALAHLI SAE ("QNB ALAHLI") of up to USD 12.5 million under the Egypt Green Economy Financing Facility ("EgyptGEFF").
The EBRD loan will enable QNB ALAHLI to support on-lending to private sub-borrowers for green, energy efficiency and renewable energy projects, which are of particular relevance in the context of high energy and carbon intensity of the Egyptian economy.
ETI score: 85
The project will generate transition impact by promoting the expansion of lending into energy efficiency and renewable energy in Egypt. It will have positive demonstration effects particularly with respect to utilising financial intermediaries for energy efficiency and small renewable energy investments.
QATAR NATIONAL BANK ALAHLI SAE
QNB ALAHLI is a commercial bank incorporated in Egypt. It is the fourth-largest Egyptian bank by asset size and the second largest private bank. The bank recorded assets of EUR 15 bn at year-end 2020 with market shares of 4.5%, 7% and 4.2% by assets, loans and deposits, respectively. It is 94.97% controlled by Qatar National Bank (Q.P.S.C.) (Qatar).
EBRD Finance Summary
Total Project Cost
The project offers a combination of longer-term financing and technical expertise into a facility that promotes targeted investment in sustainable energy, in the highly diversified private sector in Egypt.
Environmental and Social Summary
Category FI (2019 ESP). QNB ALAHLI is an existing client and will be required to continue to comply with PRs 2, 4 and 9 apply the EBRD's E&S Risk Management Procedures for Corporate and SME loans and submit annual environmental and social reports to the Bank. All projects under the Green Economy Financing Facility (GEFF) will be required to comply with the national environment, health and safety and labour regulations and standards as well as the E&S eligibility criteria for RE and EE sub-projects.
Technical Cooperation and Grant Financing
QNB ALAHLI is expected to benefit from the support of the grant resources from the European Union's Neighbourhood Investment Facility (EU NIP) and expected funds from the EBRD Shareholder Special Fund provided under the EgyptSEFF framework. Donor funds will support a comprehensive technical assistance programme to provide implementation support to QNB ALAHLI and its customers, and verification of the outcome of completed projects. Grants are also expected to provide investment incentives to QNB ALAHLI end borrowers.
Company Contact Information
+ 202 2770 7321
QNB ALAHLI Dar Champollion, 5 Champollion st. down town P.O.Box 2664, Cairo Egypt
PSD last updated
08 Jun 2021
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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).
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