Banque Misr - SME loan and TFP

Location:

Egypt

Project number:

48317

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

01 Nov 2017

Status:

Disbursing

PSD disclosed:

28 Sep 2017

Translated version of this PSD: Arabic

Project Description

Provision of a financing package of up to USD 125 million to Banque Misr, the second-largest bank in Egypt by total assets.

The facility will comprise of (i) a senior loan of up to USD 75 million for on-lending to private small and medium-sized enterprises (SMEs); and (ii) a trade finance limit of up to USD 50 million for guarantees and cash advances.

Project Objectives

The loan will assist Banque Misr to develop its SME lending activities and expand access to finance for underserved private SMEs, especially in the regions outside Cairo.

The trade finance limit with Banque Misr will strengthen the development of trade finance in the region.

Transition Impact

The SME loan will increase the availability of finance to private SMEs offering an increased number of SMEs, a largely underserved segment, better access to bank credit.

The trade finance limit will promote trade and contribute to the economic development of Egypt.

Client Information

BANQUE MISR

Banque Misr is the second-largest bank in Egypt by total assets and has the largest branch network in the country.

EBRD Finance Summary

USD 75,000,000.00

  • SME loan: USD 75,000,000
  • TFP limit: USD 50,000,000

Total Project Cost

USD 75,000,000.00

  • SME loan: USD 75,000,000
  • TFP limit: USD 50,000,000

Environmental and Social Summary

Categorised FI (2014). Banque Misr will be required to comply with PRs 2, 4 & 9. Under the SME Loan the client will be required and apply the EBRD's E&S Procedures for Corporate and Small Loans and submit annual environmental and social reports to the EBRD.

Technical Cooperation

Within the TFP framework and in line with technical assistance for all participating banks under the program, the trade finance limit will be supported by technical cooperation package which will enable the adoption of best practices, as well as the transfer of knowledge and skills needed trade finance.

Company Contact Information

Hany Helmy, Senior Deputy General Manager
hanyhg@banquemisr.com
+20 (2) 2397 8464
+20 (2) 2393 1779
www.banquemisr.com
151 Mohamed Farid St. Downtown, Cairo

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