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QNB Al Ahli - Solidarity Loan



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

23 Apr 2020



PSD disclosed:

04 May 2020

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

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.

Project Objectives

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.

Transition Impact

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. 

Client Information



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

USD 30,000,000.00

Total Project Cost

USD 30,000,000.00


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

Implementation summary

Under the Solidarity Programme EBRD extended facilities to 5 systemic PFIs in the Egyptian market for a total funding of USD 390 million by year-end 2021. This encompassed the largest private and state-owned banks in the country, which demonstrated the need for liquidity support at the time as well as EBRD's continued effort to support our clients during times of crisis. The programme has served our clients well and has allowed them to tackle unanticipated systemic shocks favourably.

The project with QNBAA was instrumental in catalysing the Solidarity Programme in Egypt, given that it was the first in the country, which helped translate into 4 other transactions with PFIs. Additionally, the project played a significant role in allowing QNBAA to achieve its objectives as part of EBRD's TI assessment. The Solidarity loan helped QNBAA to i) bridge their liquidity needs during the pandemic given the growing credit risk in the market, ii) expand their SME portfolio further and enhance their competitive advantage across the sector, and iii) support the private sector in Egypt in remaining resilient during these unprecedented circumstances. These targets align with the TI objectives set forth by EBRD upon approval and continue to help serve the EBRD's mandate in Egypt.

PSD last updated

27 Mar 2023

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

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 more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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