| 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 |
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.
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.
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.
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Funding
African Development Bank
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Implementing
Banque Misr
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| IATI identifier | 46002-P-EG-HAB-011 |
| Last Update | 22 Mar 2023 |
| Name | Sofiane Hicham SEKIOUA |
| s.sekioua@afdb.org |