Emirates NBD Egypt Subordinated Loan (EBRD-47752)

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
Sep 7, 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
Emirates NBD 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)
$ 125.00 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)
$ 125.00 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 3, 2016


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Project Description
The EBRD is considering a financing package of up to USD 125 million to Emirates NBD's Egyptian subsidiary. The facility will comprise a subordinated loan to support the planned growth of the bank and the financing of SMEs in the local market. The loan will be disbursed in two tranches of USD 50 million and USD 75 million respectively. The second tranche is uncommitted. The subordinated debt will strengthen the capital base of Emirates NBD Egypt, a medium-sized, international commercial bank in a sector that remains dominated by state-owned banks (approximately 40% market share). The financing will also increase the availability of bank finance to private SMEs, an underserved market segment The project will be the first example of a subordinated loan provided by a third party on the Egyptian market and as such will introduce a new asset-class which has been supported by policy dialogue with the Central Bank of Egypt.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
COMPANY CONTACT INFORMATION Ramzi Aissa Head of Strategy and Planning ramziai@emiratesnbd.com + (202) 2726 5727 http://emiratesnbd.com.eg/egypt-en/index.cfm Emirates NBD-Egypt, Head Office Plot No. 85 El-Tesseen Street 5th Settlement, New Cairo, Egypt 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.