Egypt SEFF (EBRD-47285)

Regions
  • Middle East and North Africa
Where the impacts of the investment may be experienced.
Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
  • European Investment Bank (EIB)
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
Oct 4, 2016
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.
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)
$ 152.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 140,000,000.00
Converted using 2017-05-09 exchange rate.
Project Cost (USD)
$ 152.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 140,000,000.00
Converted using 2017-05-09 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 10, 2018

Disclosed by Bank Aug 31, 2016


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Project Description

According to EBRD website, the project will establish the Egypt Sustainable Energy Financing Facility Framework in the amount of up to EUR 140 million (including co-financing by the European Investment Bank or the Agence Francaise de Developpement). The funds will be made available to Participating Financial Institutions 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 approach to scale up green financing.

It aims to 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.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
  • European Investment Bank (EIB)
Private Actors

National Bank of Kuwait - Egypt (S.A.E) provides corporate, retail, and investment banking services to individuals, and corporate and institutional clients in Egypt. The company offers deposit products, including current and savings accounts, time deposits, and certificates of deposit.

Contact Information

Project Contact: Renata Iksar, Associate
Director, FI, EBRD
Email Address: iksarr@ebrd.com

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.