Egypt SEFF - NBK Egypt (EBRD-47499)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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.
Borrower
Government 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)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 40.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 22, 2017

Disclosed by Bank Aug 31, 2016


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Project Description
The project consists of a loan to National Bank of Kuwait-Egypt ("NBKE") for up to USD 40 million under Egypt Sustainable Energy Financing Facility Framework ("EgyptSEFF"), out of which up USD 20 million is expected to be co-financed by Agence Francaise de Developpement ("AFD") under the same conditions. The project has been developed under the EBRD Green Economy Transition ("GET") approach to scale up green financing. The operation will enable NBKE to support on-lending to private sub-borrowers for EE and RE projects, which are of particular relevance in the context of high energy intensity of the Egyptian economy. It is expected to be the first project under EgyptSEFF and follows a pilot project with National Bank of Egypt.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Accountability Mechanism of the 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.