EgyptSEFF

Location:

Egypt

Project number:

47285

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

04 Oct 2016

Status:

Approved

PSD disclosed:

31 Aug 2016

Sub-projects signed under this framework

Translated version of the PSD: Arabic

Project Description

The EBRD is considering establishing the Egypt Sustainable Energy Financing Facility ("EgyptSEFF") Framework in the amount of up to EUR 140 million (including co-financing by the European Investment Bank ("EIB") or the Agence Francaise de Developpement ("AFD")). The funds will be made available to Participating Financial Institutions ("PFIs") in Egypt for on-lending to eligible private sector sub-borrowers for sustainable energy investments. The Framework has been developed under the EBRD Green Economy Transition ("GET") approach to scale up green financing.

The first loan under the EgyptSEFF is envisaged to be to National Bank of Kuwait-Egypt for up to USD 40 million, co-financed with Agence Francaise de Developpement ("AFD").

Project Objectives

EgyptSEFF will promote the penetration of energy efficient and renewable energy technologies, appliances and equipment in the private sector in Egypt by stimulating demand and raising awareness of the benefits of investments in such technologies.

Transition Impact

The transition impact of EgyptSEFF is expected to derive from expansion of lending into energy efficiency and renewable energy in Egypt. It will have positive demonstration effects particularly with respect to utilising financial intermediaries for energy efficiency (EE) and small renewable energy (RE) investments. EgyptSEFF will demonstrate benefits of rational energy utilisation through improved industrial competitiveness in light of rising energy costs.

EgyptSEFF will also contribute to the development of the internal capacity of the PFIs for financing energy efficiency and renewable energy projects.

Client Information

Qualifying Financial Institutions in Egypt

EBRD Finance Summary

EUR 140,000,000.00
Credit lines with PFIs will be co-financed by EIB or AFD

Total Project Cost

EUR 140,000,000.00

Environmental and Social Summary

Categorised FIs. PFIs will be required to comply with EBRD's PRs 2 , 4 & 9 and submit Annual Environmental and Social Reports to the Bank. Beneficiaries financed through the Facility will be required to comply with national requirements for environment, health and safety and labour standards and the eligibility criteria for EE and RE projects.

Technical Cooperation

EgyptSEFF will be supported by a comprehensive technical cooperation ("TC") programme to provide implementation support to the PFIs and to their clients.

EgyptSEFF will be supported by grant resources from the European Union Neighborhood Investment Facility in the amount of EUR 20.3M for investment incentives to the sub-borrowers and PFIs. In addition, EUR 3.0M will be used to fund the TC programme under EgyptSEFF.

Under the TC programme two consultants will be procured by the EBRD. A Project Consultant will be providing support to the design and successful implementation of the Facility. Additionally, upon completion, a Verification Consultant (VC) will ensure that sub-projects were successfully implemented.

Company Contact Information

Renata Iksar, Associate Director, FI, EBRD
iksarr@ebrd.com

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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