According to bank documents, the investment involves provision of a senior unsecured loan to National Bank of Egypt of up to USD 100 million, of which up to USD 75 million to be provided by EBRD and up to USD 25 million by the Green Climate Fund ("GCF") under the GCF-Green Economy Financing Facility ("GEFF") Regional Framework.
The proceeds of the loan will be used for financing investments in climate change mitigation and adaptation technologies across the industrial, commercial, transport and agricultural sectors by local private sector Small and Medium Enterprises ("SMEs"), in line with the standards and reporting requirements for GEFF in 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 firstname.lastname@example.org 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.