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According to the Bank’s website, the project consists of an investment package of up to US$100 million in the form of: (i) 5-year senior loan of up to US$50 million; and (ii) up to US$50 million uncommitted trade finance facility with tenors up to 12 months under the Global Trade Finance Program (“GTFP”) to Banque Du Caire (BdC or the Bank), a new partner bank for IFC in Egypt. The proceeds will be used to finance private-owned Micro, Small and Medium enterprises (MSMEs), including women-owned MSMEs (WMSMEs) (the loan). The loan is expected to be supported by Global SME Facility (GSMEF) as described in the Blended Finance Section.
Trade’s portfolio main exposures are to equipment and material for the manufacturing, construction, and pharmaceutical and chemical industries. The Project has been categorized as FI-2, in accordance with IFC’s Environmental and Social Sustainability Policy. The Project will not support coal-related activities, or higher risk business activities that may include: a) involuntary resettlement, b) risk of adverse impacts on indigenous peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage or d) significant occupational health and safety risks.
Project amount is up to US$100 million from IFC’s own account in the form of: (i) 5-year term loan for up to US$50 million, and (ii) up to US$50 million under the Global Trade Finance Program (GTFP). GTFP offers confirming banks partial or full guarantees covering payment risk on banks in emerging markets for trade related transactions.
BdC is fully owned by Banque Misr (BM) since April 2022: BM bought the stake formerly owned by its investment arm, Misr Capital Company.
Banque Du Caire
Ayman Khattab
Head of Financial Institutions Sector
+20 (2) 2264 6694
Ayman.Khattab@bdc.com.eg
6 Dr. Mostafa Abu Zahra Street, Nasr City, Cairo, Egypt
www.bdc.com.eg
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