|Approval Date||11 Oct 2016|
|Signature Date||09 Feb 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The present project is a support to the restructure plan of the Nasser Social Bank (NSB). NSB is the largest social bank in the Middle East. It was founded in 1971 and is affiliated with the Ministry of Social Solidarity. It's specializes in granting soft loans and microfinance for low and middle-income citizens and has had an important social role in Egypt, including providng young people with free-yield social loans, financing social housing projects and other social programs such as providing support to divorced women. The Nasser Social Bank Restructuring Project is of two phases and it would take 18 months to finalize each one. The first phase includes examination and identifying needs while the second phase includes implementation. This support will enable the bank to improve its performance through better credit management and better work rules.
The principal objectives of this project are to review and re-organize the NSB’s model and propose the most appropriate structure and reform of business processes and office infrastructure to create outstating stakeholder value by providing best in class financial and non-financial solutions to poor individuals and MSEs enterprises at affordable prices. Additionally, it aims to assist the MOSS in the overall development of socio-economic conditions of the poor who have been kept outside the banking sector on the ground that they are poor and hence not bankable.
The main beneficiaries of the project are the Government of the Arab Republic of Egypt, the Ministry of Social Solidarity, low and middle-income citizens, young people and women.
Middle Income Countries Fund
|Last Update||18 Feb 2020|