Early Warning System

Countries

Egypt

Geographic location 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

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Mar 8, 2022

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Hassan Allam Holding

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 11.44 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EGP 180
Converted using 2022-03-08 exchange rate.

Project Cost (USD)

$ 11.44 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 1, 2022

Disclosed by Bank Jun 29, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the investment involves a two-tranche local currency senior loan (the "Loan") of EGP 180m/EUR 9.1m to Hassan Allam Holding ("the Borrower").

The first tranche of EGP 55m/EUR 2.8m will finance the Borrower's capital participation in a growing FMCG e-commerce and distribution platform, whereas the second tranche of EGP 125m/EUR 6.3m will finance the Borrower's operating budget needs.

The project will support the client to implement improvements in Corporate Climate Governance (CCG) practices, including capacity building, identification of climate-action priorities and introduction of climate-related disclosures.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Hassan Allam Holding (HAH) is a leading Egypt-based engineering and construction group whose primary operations include infrastructure, industrial, and commercial projects in Egypt and the MENA region. Origins since 1936, makes HAH the oldest construction franchise in the MENA region, and boasts a solid reputation, superior technical capabilities, and a diversified portfolio. HAH delivered, as a contractor, more than 70 projects over the past five years and currently has a backlog exceeding USD 7 billion. HAH stands out with an integrated business model offering world class engineering solutions, besides general and specialized construction, along with a range of complementary business lines, subsidiaries and affiliates that include steel fabrication, a wood workshop, aggregate quarries, ready mix concrete, concrete products, building technologies & office solutions, a concrete pipes factory and construction chemicals. HAH also invests as a developer, an owner, and an operator in infrastructure and logistics in partnership with global sector leaders. Hassan Allam Holding principally operates in Egypt with more than 30 subsidiaries and associates stretching corporate and commercial activity to Germany, the Netherlands, Saudi Arabia, Oman, Jordan, Congo-Kinshasa and Algeria. The Company is one of the largest employers in Egypt with upwards of 40,000 between full time employees and daily workers.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Hassan Allam Holding Inc.	Client	-

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Mohy-Eldin M.Abdin
Mohy.Abdin@Hassanallam.com
+ 202 22659000
https://www.hassanallam.com/
Yehia Zakaria St., Industrial Zone - lot 5, Sheraton Heliopolis Housing, 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