PROJECT

Projects

Summary of Investment Information

Project Number

47766

Company Name

AL BARAKA BANK EGYPT SAE

Date SPI Disclosed

Jul 26, 2023

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Jul 31, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 13, 2024

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Sep 7, 2023
Signed : Dec 3, 2023
Invested : Jan 10, 2024

Sector

Commercial Banking - SME Finance

Project Description

 The proposed project consists of an investment package of up to US$55 million in the form of: (i) 1-year Working Capital Structure (WCS) for up to US$50 million renewable twice up to a maximum tenor of 36 months, and (ii) a Trade Finance Facility of up to U$5 million to Al Baraka Bank Egypt, a new partner bank for IFC. The proceeds will be used to support the Bank’s expansion of its micro, small and medium enterprises (MSME) portfolio, including Women-owned MSMEs (WMSME) (the Project).

                                                 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation