Egypt: Entrepreneurship Development Project (AFDB-G-EG-KZ0-ZZZ-004)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 20, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
*Borrower information not provided at the time of disclosure*
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 2.02 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2018-07-20 exchange rate.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 8, 2020


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Project Description

According to bank provided information, the present intervention concerns the Entrepreneurship Development Project. It aims to empower and enable potential and existing entrepreneurs to establish, manage and operate successful innovation-driven businesses. The project is one of the three country projects linked to the Regional Platform for Entrepreneurship Development established in the Bank's North Africa Resource Center, in addition to the Morocco and Tunisia entrepreneurship development projects. It will focus on three priority sectors, namely: (i) agribusiness; (ii) clean and green, and (iii) creative industries with a particular focus on handicrafts and performing arts.

The project consists of the following three components: (i) Enhancement of Enabling Environment; (ii) Direct Support to Entrepreneurs; and (iii) Project Management, Monitoring and Evaluation.

The project's direct beneficiaries are owners and managers of potential and existing start-ups and early growth businesses requiring coaching, mentoring and tailored business development services as well as seed-funding. The project's indirect beneficiaries will be members of the Egyptian entrepreneurship ecosystem at large that will benefit from spill-over effects from the project and the innovative products produced by project beneficiaries.

Investment Description
  • African Development Bank (AFDB)
Contact Information

Gehane El Sokkary
g.elsokkary@afdb.org 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.