Provision of a senior unsecured loan to QNB ALAHLI SAE ("QNB ALAHLI") of up to USD 50 million under the regional GCF GEFF programme, of which up to USD 7.5 million is expected to be co-financed by the Green Climate Fund ("GCF").
The EBRD loan will enable QNB ALAHLI to (i) support on-lending to private sub-borrowers for green, energy efficiency and renewable energy projects, which are of particular relevance in the context of the high energy intensity of Egypt's economy, and (ii) to support high performance technologies and services supporting a green economy. Sub-borrowers include micro, small and medium-sized enterporises (MSMEs) and individual households that operate across the residential, agribusiness, industrial, commercial and service sectors.
ETI score: 75
The project supports the Green transition quality through the provision of funding and technical assistance to financial intermediaries to promote private sector MSMEs investments in efficient climate change mitigation and adaptation technologies. This will support building a green economy in Egypt by facilitating the accelerated market penetration of climate technologies.
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 package 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 (EU NIP). 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 end borrowers.
Company Contact Information
+ 202 2770 7321
Postal Address: 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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