GCF GEFF Regional-Egypt II - QNB AlAhli (EBRD-52806)

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
Jul 14, 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
QNB ALAHLI SAE
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)
$ 42.50 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)
$ 50.00 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 Jun 14, 2021

Disclosed by Bank Jun 8, 2021


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Project Description

According to bank provided information, the investment involves the provision of a senior unsecured loan to QNB ALAHLI SAE ("QNB ALAHLI") of up to USD 50 million under the regional GCF GEFF programme, of which up to USD 7.5 million is expected to be co-financed by the Green Climate Fund ("GCF").

The EBRD loan will enable QNB ALAHLI to (i) support on-lending to private sub-borrowers for green, energy efficiency and renewable energy projects, which are of particular relevance in the context of the high energy intensity of Egypt's economy, and (ii) to support high performance technologies and services supporting a green economy. Sub-borrowers include micro, small and medium-sized enterporises (MSMEs) and individual households that operate across the residential, agribusiness, industrial, commercial and service sectors.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Financial Intermediary
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds.
Private Actors
Private Actors Description

QNB ALAHLI is a commercial bank incorporated in Egypt. It is the fourth-largest Egyptian bank by asset size and the second largest private bank. The bank recorded assets of EUR 15 bn at year-end 2020 with market shares of 4.5%, 7% and 4.2% by assets, loans and deposits, respectively. It is 94.97% controlled by Qatar National Bank (Q.P.S.C.) (Qatar).

Contact Information

Sally HAMDALLA
Sally.HAMDALLA@QNBALAHLI.COM
+ 202 2770 7321
www.qnbalahli.com 
Postal Address: QNB ALAHLI Dar Champollion, 5 Champollion st. down town P.O.Box 2664, Cairo 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