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According to bank documents, the investment is a provison of a USD 25 million two year working capital loan (the "Loan") to support Orascom Construction S.A.E (the "borrower" or the "Company") working capital needs in Egypt amidst the COVID-19 pandemic crisis.
Support the Company's working capital requirements. The Company is expecting higher working capital needs as result of the COVID-19 pandemic. During the first quarter of 2020 the Company already experienced the effects of partial lock down in addition to social distancing and health and safety requirements at the project sites. A two year USD working capital facility will improve the Borrower's financial resilience to withstand the potential negative implications of the COVID-19 pandemic.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Orascom Construction S.A.E | Client | - |
Nader Ragheb
Nader.Ragheb@orascom.com
2005A Corniche El Nil, Nile City South Tower, 25th Floor, Cairo - Egypt 11221
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