EgyptSEFF - AlexBank (EBRD-49376)

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
Proposed
Bank Risk Rating
U
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
Nov 1, 2017
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
Bank of Alexandria
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 Amount (USD)
$ 15.00 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)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 2, 2017

Disclosed by Bank Sep 28, 2017


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Project Description
The project consists of a loan to Bank of Alexandria ("AlexBank") for up to USD 30 million under the Sustainable Energy Financing Facility for Egypt ("EgyptSEFF"), out of which up USD 15 million is expected to be co-financed by the European Investment Bank ("EIB") under the same conditions. The operation will enable AlexBank to support on-lending to private sub-borrowers for Energy Efficiency and Renewable Energy projects, which are of particular relevance in the context of high energy intensity of the Egyptian economy. It is expected to be the one of the first projects under EgyptSEFF and follows a pilot project with the National Bank of Egypt.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Tamer Seif El Din - Head of Corporate Banking Products Division +2 (202) 2399 2000 https://www.alexbank.com/enAlexBank-Egypt, Head Office 49 Kasr El Nile Street 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.