AWB Egypt (IFC-50183)

Countries
  • Egypt
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
B
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
Dec 20, 2024
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
ATTIJARIWAFA BANK EGYPT S.A.E.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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 @ IFC website

Updated in EWS Mar 17, 2025

Disclosed by Bank Nov 20, 2024

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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 the Bank’s website, the proposed project involves an IFC investment of (i) a subordinated loan of up to US$20 million; and (ii) a US$10 million equivalent in local currency unfunded risk sharing facility (RSF) to support Attijariwafa Bank Egypt (AWBE or the Bank) lending program to small and medium enterprises (SMEs), for which IFC’s maximum exposure will be up to 50% of an aggregate portfolio of a maximum amount of up to US$20 million (the Project).

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The proposed project consists of (i) a subordinated loan and (ii) unfunded risk sharing facility to AWBE. This is an FI-2 category project according to the IFC's Sustainability Policy. The portfolio consists of predominantly short-term corporate loans in medium risk sectors including food and beverage, construction, building materials, pharma and healthcare, telecommunications, paper and printing, textiles and garments, plastics, automotive, agriculture, and a few higher-risk sectors such as oil and gas and power generation. The key risks and impacts of the project derive from the Bank's capacity to identify and manage potential E&S risks associated with its lending activities. These risks are typically associated with labor and working conditions, occupational health and safety, pollution prevention and atmospheric emissions, waste and wastewater management, amongst others.

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

The proposed Project involves an IFC investment of a (i) a subordinated loan of up to US$20 million; and (ii) a US$10 million equivalent in local currency unfunded RSF to support the Bank’s lending program to small and medium enterprises (SMEs). 

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
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.

Attijariwafa Bank Egypt is a subsidiary of Attijariwafa Morocco, a leading banking and financial Group in North, Western and Central Africa. In 2017, Attijariwafa Bank Morocco fully acquired Barclays Bank Egypt and has been since registered as Attijariwafa bank Egypt S.A.E, operating under the new trademark and logo. Attijariwafa Bank Egypt operates through a network of 64 branches and 112 ATMs covering key cities in Egypt and employs more than 1,445 staff serving a client base comprised of corporate clients as well as a strong base of more than 169,120 retail banking customers across the country.


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.

Attijariwafa Bank Egypt
Asmaa Eissa
Head of Financial Institutions and Correspondent Banking
+2-01272668650 
Asmaa.Eissa@attijariwafa.com.eg
Star Capital A1 Tower, City Stars, 6th Floor, 1 Ali Rashed St. Nasr City, Cairo, Egypt
www.attijariwafabank.com.eg/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works