FIF - National Bank of Egypt - Youth in Business Pilot (EBRD-51384)

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
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
Nov 27, 2019
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
National Bank of 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)
$ 30.00 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.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 2, 2020

Disclosed by Bank Oct 24, 2019


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Project Description

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.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Abbas Chams
AbbasChams@nbe.com.eg; inter-loans@nbe.com.eg
+ 202 25945312
https://www.nbe.com.eg/
1187 Corniche El nil, 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.