Provision of a senior unsecured loan to Ahli United Bank Egypt ("AUBE") of up to USD 10 million for on-lending to private small and medium-sized enterprises ("SMEs") within certain value chains for capex investments.
The proceeds of the loan will be on-lent to private SMEs in Egypt within certain value chains (in agribusiness, manufacturing and services, and ICT sectors) for capex investments.
AHLI UNITED BANK EGYPT SAE
AUBE is the 18th largest bank in Egypt (out of 38 currently operating) with total assets of USD 3.7bn as of 1Q2021 and market shares of ca. 0.8%, 1.2% and 0.9% in terms of assets, loans and deposits, respectively. AUBE is 95.7% owned by Ahli United Bank ("AUB"), the largest bank in Bahrain.
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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.
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