Provision of a senior unsecured loan of up to USD 100 million to Banque Misr S.A.E ("BM") under the Financial Intermediaries Framework ("FIF"), to be on-lent to eligible micro, small, and medium enterprises ("MSMEs").
The EBRD loan will support BM's lending activities and expand access to finance for the underserved MSME segment.
ETI score: 60
- Competitive:The project will support BM's lending to private MSMEs in Egypt, where the gaps in access to finance are High, with a focus on regional outreach and attracting new MSME clients.
- Resilient: The project aims to ensure prudent lending practices and adequate portfolio quality.
BANQUE MISR SAE
BM is the second-largest bank in Egypt with a market share of 18.2% and 17.6%, 20.1% in terms of assets, loans and deposits, respectively as at end-September 2022. BM was established in 1920, and is 100% state-owned. BM has the largest branch network in Egypt with ca. 800+ branches across the country.
EBRD Finance Summary
Total Project Cost
The loan offers a combination of longer-term financing than what is available in the market and promotes financing for MSMEs in Egypt.
Environmental and Social Summary
Categorised FI (2019). BM is an existing client of the Bank and is currently the recipient of a TC assignment to assist them in developing an E&S management system compliant with EBRD's and the Central Bank of Egypt's requirements. BM is compliant with PRs 2 and 4 in relation to labour management and health and safety, and it is expected that at the end of this assignment, BM's E&S risk management procedures will be in line with EBRD's PR9 requirements. The Client's E&S performance will be monitored through the review of annual reports.
Technical Cooperation and Grant Financing
Company Contact Information
Shady El Gazzar, General Manager
+20 (2) 2399 1040
149 Mohamed Farid St. Downtown, Cairo
PSD last updated
26 Apr 2023
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Independent Project Accountability Mechanism (IPAM)
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