Provision of a senior unsecured loan to Ahli United Bank Egypt ("AUBE") of up to USD 30 million for on-lending to private small and medium-sized enterprises ("SMEs") in Egypt.
The EBRD loan will support AUBE's SME lending activities and expand access to finance for underserved SMEs, especially in the remote regions through attracting new clients.
ETI score: 60
The SME loan will increase the availability of finance to private SMEs allowing an increased number of SMEs, a largely underpenetrated segment, to gain access to bank credit.
AHLI UNITED BANK EGYPT SAE
AUBE is the 18th largest bank in Egypt (out of 38 currently operating) with total assets of USD 3.7bn as of 1Q2021 and market shares of ca. 0.8%, 1.2% and 0.9% in terms of assets, loans and deposits, respectively. AUBE is 95.7% owned by Ahli United Bank ("AUB"), the largest bank in Bahrain.
EBRD Finance Summary
Total Project Cost
The project will enable AUBE to increase availability of medium-term funding for SMEs in Egypt, which remain underserved and support the bank's competitiveness through reaching new clients and regions outside of Greater Cairo and Alexandria.
Environmental and Social Summary
Categorised FI (ESP 2019): AUBE will be required to comply with PRs 2, 4 & 9, and further, implement and comply with EBRD's Environmental & Social (E&S) Procedures and the applicable Risk Management Procedures for SME and Corporate Lending. AUBE will also be required to submit annual environmental and social reports to the Bank. The client will receive guidance from the EBRD on the implementation of the applicable Risk Management Procedure.
Technical Cooperation and Grant Financing
Company Contact Information
Omnia Kamal, FI Manager
+20 100 521 6640
81 El-Tesseen Street, Sector A, Fifth Settlement, Cairo, Al Qahirah 11835, Egypt
PSD last updated
13 Aug 2021
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