SCB SSL (IFC-50693)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 5, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
SUEZ CANAL BANK (S.A.E)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 24, 2025

Disclosed by Bank Aug 15, 2025

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Can you contribute information about this project?
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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project consists of an IFC investment in the form of a 5-year straight senior loan of up to US$50 million to Suez Canal Bank (SCB), to support the Bank’s expansion in lending to Micro, Small, and Medium Enterprises (MSMEs), including Women-owned MSMEs (WMSMEs) (the Project). The Project will receive support from the IFC’s Blended Finance Facility for Refugees (Prospects). The loan will be coupled with a trade guarantee limit of up to US$10 million to support the Bank’s trade finance activities under IFC’s Global Trade Finance Program (GTFP).

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The project will support the Bank’s expansion in lending to MSMEs, with a 25% carve-out to women-owned MSMEs in Egypt. The project also includes a trade finance facility under IFC’s Global Trade Finance Program (GTFP). The key E&S risks are typically related to occupational health and safety and labor and working conditions, waste and wastewater management, pollution prevention among others. The SME business sectors to be supported by the project mainly include microfinance companies, manufacturing, trade and commerce, construction, real estate, contracting and transportation, and other services which are expected to have potential limited adverse environmental and/or social risks or impacts that are few, generally site specific, largely reversible, and can be readily addressed through mitigation measures. The Project has therefore been categorized as a Category FI-2 according to IFC Sustainability Policy.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Project cost is up to US$60 million in the form of: (i) a senior straight loan for US$50 million, and (ii) US$10 million guarantee limit under the GTFP.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Arab International Bank (AIB) is the largest shareholder of Suez Canal Bank (SCB) with 41.5% ownership. AIB is owned by a group of governments in the region. The second largest shareholder is the Libyan Foreign Bank, with a holding of 27.7%. The third largest shareholder is the Suez Canal Authority (SCA) pension fund with 10.1% ownership. SCA owns, operates and maintains the Suez Canal.

SCB is listed on the Egyptian Stock Exchange (EGX) with a free float of 7.5%.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Suez Canal Bank (S.A.E.)
Akef El Maghraby
CEO
20 227942607
7-9 Abd El-qader Hamza Street,Garden City, PO Box 11516, Cairo, Egypt, Arab Republic of

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works