GCF GEFF Egypt Commercial - AUB Egypt GVC (EBRD-52376)

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
Sep 15, 2021
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
Ahli United Bank Egypt
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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, etc.
Investment Amount (USD)
$ 9.00 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)
$ 12.00 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 Aug 20, 2021

Disclosed by Bank Aug 13, 2021


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Project Description

According to bank provided information, the investment involves the provision of a senior unsecured loan to Ahli United Bank Egypt ("AUBE") of up to USD 12 million (EBRD financing of USD 9 million and GCF co-financing of up to USD 3 million) for on-lending to private small and medium-sized enterprises ("SMEs") within certain value chains for capex investments in climate change mitigation and adaptation technologies and services.

The proceeds of the loan will be on-lent to private SMEs within certain value chains (in such sectors as agribusiness, manufacturing and services, and information and communication technologies ("ICT")) for capex investments in climate change mitigation and adaptation technologies and services.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial 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.

Contact Information

Omnia Kamal, FI Manager
Omnia.Kamal@AhliUnited.com 
+20 100 521 6640
www.ahliunited.com/eg 
81 El-Tesseen Street, Sector A, Fifth Settlement, Cairo, Al Qahirah 11835, Egypt

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request 

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 at: 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