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    Signature(s)

    Amount
    € 800,000,000
    Countries
    Sector(s)
    Egypt : € 800,000,000
    Credit lines : € 800,000,000
    Signature date(s)
    3/09/2020 : € 800,000,000
    Link to source
    Other links

    Summary sheet

    Release date
    7 July 2020
    Status
    Reference
    Signed | 03/09/2020
    20200093
    Project name
    Promoter - financial intermediary
    NBE LOAN FOR SMES AND MIDCAPS COVID-19
    NATIONAL BANK OF EGYPT
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 800 million
    not applicable
    Location
    Sector(s)
    Description
    Objectives

    Loan for small and medium-sized enterprises (SMEs) and midcaps in response to COVID-19 crisis affecting private businesses.

    Financing of small/medium projects carried out by SMEs and midcaps, including the increased working capital needs in the COVID-19 impact period.

    Environmental aspects
    Procurement

    The Bank will require the intermediary institution to take all the requisite measures to ensure that the 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.

    The Bank will require the intermediary institution to take all the requisite measures to ensure that any procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances are in accordance with EIB Guide to Procurement.

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Link to source

    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).

    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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