This project was approved as part of the Bank's response to the COVID-19 pandemic. To avoid delays to the delivery of this project, the Bank's President granted a deviation from the ordinary timelines for PSD disclosure, as contemplated by Section V of the Directive on Access to Information. Details of the Bank's response to COVID-19, and this deviation, can be found on our website.
Provision of a senior unsecured loan to QNB Alahli ("QNBAA") of up to USD 100 million, under the Bank's Resilience Framework ("RF"). Proceeds of the proposed loan will be on-lent to local private Small and Medium Enterprises ("SMEs"), and to Corporates to cover financing needs that may arise as a result of the Covid-19 outbreak.
The proceeds of the loan will help QNBAA in providing funding to local SMEs and Corporates experiencing either a decrease in their activity, turnover and/or profitability, in turn leading to delays in payments and potential defaults, or growing capacity needs due to a significant fluctuation in demand in particular sectors.
ETI score: 70
The transition impact of the project will stem from its contribution to the continued functioning of the Egyptian economy by helping private SMEs and Corporates to address challenges brought by the current crisis. The project will also help QNBAA maintain its competitiveness in the market.
QATAR NATIONAL BANK ALAHLI SAE
QATAR NATIONAL BANK ALAHLI SAE
QNBAA 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 15.2bn with market shares of 4.7%, 8.1% and 4.9% by assets, loans and deposits, respectively, as of YE2019. It is 94.97% controlled by Qatar National Bank QPSC (Qatar).
EBRD Finance Summary
Total Project Cost
COVID-19 crisis response allowing QNBAA to respond to liquidity needs for SMEs and corporates experiencing slowdown and payment delays, or increased capacity needs following a massive fluctuation in demand.
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.
Technical Cooperation and Grant Financing
Company Contact Information
+ 202 2770 7321
QNB ALAHLI Dar Champollion, 5 Champollion st. down town P.O.Box 2664, Cairo Egypt
PSD last updated
05 May 2020
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
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