Release date: 5 June 2013
Promoter – Financial Intermediary
NATIONAL BANK OF EGYPTLocation
Description
Line of credit under the Special FEMIP Envelope (SFE) to the National Bank of Egypt (NBE) for financing small and medium-sized projects in agribusiness, manufacturing, tourism, private education, small scale energy, healthcare and related services in Egypt.
Objectives
In line with EIB FEMIP operational plan 2013 for Egypt the project's objective is to support local private sector, and in particular SMEs. The proposed credit line facility is aimed at the partial financing of small and medium-sized investment projects targeting eligible sectors, undertaken by private companies. It will improve the availability of long-term funding and the possibility of extending foreign currency loans, in particular for export oriented enterprises.
Comments
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
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.
Procurement
Normal procurement rules for EIB global loans will apply.
Status
Signed - 17/12/2013