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    Signature(s)

    Amount
    € 139,935,247.51
    Countries
    Sector(s)
    Egypt : € 139,935,247.51
    Credit lines : € 139,935,247.51
    Signature date(s)
    4/06/2018 : € 19,935,247.51
    14/03/2015 : € 120,000,000

    Summary sheet

    Release date
    14 April 2014
    Status
    Reference
    Signed | 14/03/2015
    20130288
    Project name
    Promoter - financial intermediary
    PRIVATE SECTOR DEVELOPMENT AND ECONOMIC GROWTH
    Acceptable banks.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 140 million
    not applicable
    Location
    Sector(s)
    Description
    Objectives

    Line of credit to Egyptian banks for the purpose of financing small and medium sized projects in productive and related sectors in Egypt. The overall objective of the loan is to promote economic growth and employment for Egyptian private sector companies.

    The project's objective is to support the local private sector, in particular SMEs. The proposed credit line facility is aimed at the partial financing of small and medium-sized investment projects targeting productive sectors undertaken by private companies. It will improve the availability of long-term funding and the possibility of extending foreign currency loans for the intermediary banks.

    Environmental aspects
    Procurement

    Projects co-financed under the proposed facility will be required to comply with the relevant national legal framework and be acceptable to the Bank in line, as appropriate, with the EU Environmental policy and legislation.

    Normal procurement rules for EIB global loans will apply.

    Under ELM Guarantee
    Comments

    This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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