Release date: 27 December 2022
Promoter – Financial Intermediary
BANK OF ALEXANDRIALocation
Description
Framework loan to AlexBank under Egypt GEFF (Green Economy Financing Facility) for private sector financing of green economy projects, including energy efficiency, renewable energy and a significant Climate Action component.
Objectives
The loan will provide financing to the projects undertaken by small, medium and mid-cap enterprises across Egypt to support the development of energy efficiency and small renewable energy projects in the private sector as well as climate change mitigation.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
USD 15 million (EUR 13 million)
Total cost (Approximate amount)
USD 30 million (EUR 26 million)
Environmental aspects
The Bank will require the intermediary institution to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.
Procurement
The Bank will require the intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects that the Bank finances are in accordance with the Bank's Guide to Procurement.
Status
Signed - 21/12/2022
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).