Provision of a subordinated loan of up to USD 50 million to Banque du Caire ("BDC") to support the bank's growth plans.
The subordinated loan will strengthen BDC's Tier II capital to support the bank's growth plans. In addition, the financing is accompanied with a Corporate Climate Governance ("CCG") Action Plan, which will help BDC take steps towards adopting and implementing the recommendations set out by the Task Force on Climate-related Financial Disclosures ("TCFD") at an institutional level.
ETI score: 60
Resilient: The project will contribute towards strengthening the capital adequacy of a systemic financial institution.
Well-governed: The project will support BDC to implement improvements in its climate governance practices and build a framework for managing climate related risks and opportunities, contributing towards BDC's ambitions for implementing solid foundations for CCG at an institutional level.
BANQUE DU CAIRE SAE
BDC is the 5th largest bank in Egypt with total assets of USD 16.3bn as of year-end 2021 and market shares of ca. 3.0% in terms of assets, 3.2% in terms of loans, and 3.1% in terms deposits. The bank operates the 3rd largest branch network in Egypt, and is ultimately owned by Banque Misr, the second largest bank in Egypt.
EBRD Finance Summary
Up to USD 50,000,000.00
Total Project Cost
Up to USD 50,000,000.00
The project will (i) offer long-term financing to support BDC's growth plans, (ii) support BDC in adopting advanced CCG practices through the provision of a targeted technical assistance package focusing on capacity building and (iii) promote gender-responsive lending practices and inclusive workplaces through the provision of dedicated training.
Environmental and Social Summary
Categorised FI (ESP 2019): BDC is an existing client of the Bank and has been reporting on its E&S performance under existing exposure. Previous due diligence and monitoring of the Client's E&S performance demonstrate BDC has overall labour and health and safety procedures in line with EBRD's requirements. BDC complies with the exclusion list, and is currently developing an E&S management system and its related policies and procedures in line with EBRD's PR9 requirements. BDC's E&S performance will be monitored through the review of annual reports submitted to EBRD.
Technical Cooperation and Grant Financing
The project will be supported by a comprehensive technical cooperation programme to provide CCG implementation support to BDC.
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
19 May 2022
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
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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.
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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).
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 firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.