EBRD lends NBE $100 million

EBRD announced about Provision of a senior unsecured loan to National Bank of Egypt (NBE) under an A/B loan structure, comprising an A Loan of up to USD 100 million (EUR 93 million) for EBRD's own account and a B Loan for the accounts of participants to be mobilized on a best-efforts basis in several tranches.

The proceeds of the Loan will be used by NBE for on-lending to private Egyptian micro, small and medium size enterprises (MSMEs) with half the proceeds expected to be on-lent to regions outside of Cairo and Alexandria.

Half the funds will be specifically channelled to women led and/or owned and young entrepreneurs led and/or owned enterprises, particularly underserved in Egypt.

The project supports the Competitive Transition Impact (TI) quality by increasing the amount of financing available to private Egyptian MSMEs.

The project also contributes to the Inclusive TI quality, as the proceeds of the Loan will be on-lent with a specific regional angle, and with a focus on women and young entrepreneurs.