Provision of a senior loan of up to USD 50 million to Banque du Caire ("BDC") for on-lending to private micro, small and medium-sized enterprises ("MSMEs") in Egypt.
The EBRD loan will assist BDC to develop its MSME lending activities and expand access to finance for underserved private MSMEs.
ETI score: 60
The EBRD loan will increase the availability of finance to private MSMEs allowing greater access to finance for this largely underserved segment.
BANQUE DU CAIRE
BDC is the 6th largest bank in Egypt with total assets of USD 11.5bn as of June 2020. The bank operates the 3rd largest branch network in Egypt. BDC is ultimately owned by Banque Misr ("BM"), the 2nd largest bank in the country.
EBRD Finance Summary
Total Project Cost
Provision of scarce medium-term financing directed at an underserved segment of the real economy.
Environmental and Social Summary
Categorised FI (ESP 2019): BDC will be required to comply with PRs 2, 4 & 9, and further, implement and comply with EBRD's TFP Environmental & Social (E&S) Procedures and the applicable Risk Management Procedures for Micro, SME and Corporate Lending. The Borrower will be required to submit annual environmental and social reports to the Bank to monitor their E&S performance and progress.
Technical Cooperation and Grant Financing
This project was approved in the context 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.
Company Contact Information
Ayman Khattab - Head of Financial Institutions
+202 (0) 22646694
Banque du Caire 6 Dr. Mostafa Abou Zahra Street Nasr City Cairo Egypt
PSD last updated
28 Jan 2021
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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 firstname.lastname@example.org. 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 email@example.com to get guidance and more information on IPAM and how to submit a request.