According to bank provided information, the investment involves the provision of a senior unsecured loan of up to USD 20 million to Qatar National Bank ALAHLI S.A.E ("QNB ALAHLI") under the Financial Intermediaries Framework - Egypt Youth in Business ("YiB") programme, for on-lending to eligible private Micro, Small and Medium Enterprises ("MSMEs") whose overall operational management responsibility or majority ownership is held by a person (or persons) under the age of 35 as defined in the Policy Statement ("Youth MSMEs").
The project is expected to increase the pool of financing available to young individuals in Egypt and to help this group of borrowers build their skill-set and develop their businesses, thereby promoting youth entrepreneurship and youth's participation in business through an integrated approach.
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 20.6bn with market shares of 4.1%, 5.8% and 4.6% by assets, loans and deposits, respectively at H1 2022. QNB ALAHLI is 94.97% owned by Qatar National Bank.
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