PROJECT

Projects

Summary of Investment Information

Project Number

50183

Company Name

ATTIJARIWAFA BANK EGYPT S.A.E.

Date SPI Disclosed

Nov 20, 2024

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Dec 20, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jan 11, 2025

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 20, 2024
Signed : Dec 31, 2024
Invested : Jan 7, 2025

Sector

Commercial Banking - General

Additional Project Attributes

Blended Finance

Project Description

 

The proposed project involves an IFC investment of (i) a subordinated loan of up to US$20 million; and (ii) a US$10 million equivalent in local currency unfunded risk sharing facility (RSF) to support Attijariwafa Bank Egypt (AWBE or the Bank) lending program to small and medium enterprises (SMEs), for which IFC’s maximum exposure will be up to 50% of an aggregate portfolio of a maximum amount of up to US$20 million (the Project).

Associated Advisory Engagement

 

The Project is supported by IFC’s Egypt30by30 Upstream program. The AS engagement will support AWBE in (i) reviewing potential transactions to support the Bank in allocating investment proceeds to eligible climate assets, (ii) portfolio monitoring and reporting, in line with IFC’s climate eligibility criteria; and (iii) using the IFC Climate Assessment for Financial Institution (CAFI) tool. This will support the Bank in confirming the eligibility and calculating transactions climate impact, accelerating the use of the investment proceeds, and supporting AWBE’s green portfolio growth.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation