Egypt: National Bank of Egypt On-Lending Facility for Infrastructure (AIIB-000258)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 12, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Bank of Egypt
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 11, 2020


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Project Description

According to bank documents, the objective is to enhance the growth in investments into infrastructure in Egypt.

The transaction is an on-lending facility to the National Bank of Egypt (NBE). AIIB will provide NBE with a loan of USD150 million for on-lending to sub-projects in the infrastructure sector. NBE is wholly owned by the Ministry of Finance of Egypt and is the largest commercial bank in Egypt by asset size, gross loans and deposits. Depending on the pipeline, the financing has the potential to support AIIB's Energy Sector Strategy, Transport Sector Strategy, and Sustainable Cities Strategy. The funding also supports the Government of Egypt's initiatives to increase investments into infrastructure in the country.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Private Actors
Contact Information

PROJECT TEAM LEADER
Neeraj Jain
Investment Officer
neeraj.jain@aiib.org 

BORROWER
National Bank of Egypt
Hesham Elsafty
Head, Financial Institution
hesham.elsafty@nbe.com.eg 

 

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.