According to bank documents, the invesment is provision of a senior unsecured loan to National Bank of Egypt of up to USD 30 million, under the Egypt Youth in Business programme. The proceeds of the loan will be on-lent to local private enterprises that are led or owned by youth.
The project is expected to increase the pool of financing availabe to young individuals in Egypt andto help this group of borrowers to build their skill-set and develop their businesses, thereby promotingyouth entrepreneurship and youth's participation in business through an integrated approach.
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.