Egypt- MISR Bank


Project Summary

Approval Date 09 Nov 2022
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 98,786,446.5
Status Approved

Project General Description

This intervention concerns the “MISR Bank” project. It concerns a funding of USD 160 million to Banque Misr SAE of Egypt for onward lending to small and medium-sized enterprises (SMEs) and corporates. Most of these companies operate in key sectors of the Egyptian economy. These include industry, Information and Communications Technology (ICT) and agriculture/agribusiness. Through this project, the African Development Bank will provide a funding in the form of two lines of credit of an amount of USD 160 million with a tenor of 10 years to BM to fund its clients in Egypt. 40% of the funding will benefit SMEs while the other 60% will be used to extend loans to corporates.

Project Objectives

The objective of the project is to provide Banque Misr with a line of credit to Banque Misr SAE of Egypt to enable further lending to small and medium-sized enterprises (SMEs) and corporates.

Beneficiaries

The direct beneficiary of the intervention is Banque Misr SAE of Egypt. Subsequently, the loans will benefit small and medium-sized enterprises (SMEs) and corporates.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-EG-HAB-011
Last Update 28 Jan 2023

Export

Contact Details

Email private-sector@afdb.org

Geographic Location

Country Egypt