NBE secures US$100m loan from EBRD to support SMEs

National Bank of Egypt partners IFC

EGYPT – National Bank of Egypt (NBE) has secured US$100 million loan from European Bank for Reconstruction and Development (EBRD) to support the country’s small and medium-sized enterprises (SMEs).    The loan will benefit Egypt’s SMEs in terms of energy efficiency, climate change mitigation and the introduction of adaptation technologies, according to the EBRD.    NBE will on-lend the funds to SMEs operating in the sectors of industry, commerce and agriculture to help improve the use of energy, water and land resources, as well as investments in high-performing technologies, which is expected to support…

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AFDB partners EBRD to unlock additional sustainable investment opportunities in Africa

AFRICA – The African Development Bank Group (AfDB) has signed a memorandum of understanding (MoU) with the European Bank for Reconstruction and Development (EBRD) to promote sustainable private-sector development in Africa. The MoU will catalyse new sources of financing to help bridge the US$2.5 trillion annual financing gap for development in Africa. This gap requires that development finance institutions work in partnership. “The new partnership agreement between our two institutions will pave the way for us to do more together, especially in supporting the growth of Africa’s private sector,” said…

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Solar plant Kom Ombo secures US$114m to finance its construction

EGYPT – Kom Ombo, the largest private-sector solar plant in Egypt, has secured US$114 million package, through ACWA Power, from a group of banks to finance its construction. The deal was signed by the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development, the African Development Bank (AfDB), the Green Climate Fund (GCF), and the Arab Bank. The package includes loans of up to US$36 million from the EBRD, US$18 million from the OPEC Fund, US$17.8 million from the AfDB, US$23.8 million from the GCF and…

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Medical textiles company Lamatem secures US$7m loan from EBRD and EU

MOROCCO – Lamatem, a Moroccan producer of high-‎end ‎medical garments, has secured €6 million loan (US$7.05m) from The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) to help the company increase its exports to European markets. The investment will help Lamatem to increase its supply of medical protective equipment and to offer a more diverse range of products, through the use of a state-of-the-art sterilisation machine, to local and European medical suppliers. Lamatem will also diversify its energy supply and boost the use of renewables, with…

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Banque du Caire secures US$100m financing from EBRD for on-lending MSMEs

EGYPT – Banque du Caire, a full-service bank, has secured US$100 million financing package from The European Bank for Reconstruction and Development (EBRD) for trade financing and on-lending to local micro-, small and medium-sized companies (MSMEs). The EBRD will provide a US$50 million loan to help Banque du Caire increase the amount of funding it makes available to Egypt’s MSMEs and support the bank in expanding its MSME lending outside the Greater Cairo region. The EBRD is also extending a US$50 million trade finance limit under the EBRD’s Trade Facilitation…

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EBRD approves US$497m additional funding for the next face of its Green Climate Fund

AFRICA – The European Bank for Reconstruction and Development (EBRD) has announced the approval of additional funding for the next phase of its successful large-scale partnership with the Green Climate Fund (GCF). The US$497 million fund will support thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change. The new extension will help maintain momentum and continue scaling up gender-responsive green financing. It is estimated that the latest extension will avoid CO2 emissions of 800,000 tonnes per year, which is equivalent to retiring 125 MW…

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Tunisia’s electricity provider STEG secures US$361m from EBRD to support its stability

TUNISIA – Société Tunisienne de l’Electricité et du Gaz (STEG), Tunisia’s electricity provider, has secured US$361 million (€300 million) financing from the European Bank for Reconstruction and Development (EBRD) to support its stability. The financing package is meant to support the stability of Tunisia’s energy sector during the COVID-19 pandemic in the medium term. It will allow STEG to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company. The financing package will be accompanied by a detailed roadmap…

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EBRD provides US$1.21m to support construction of dry port and logistics centre in Egypt

EGYPT – European Bank for Reconstruction and Development (EBRD) has announced a €1 million (US$1.21m) contribution to support the construction of a dry port and logistics centre in 10th of Ramadan City, Egypt. The city was founded in the 1970s in close vicinity to the capital Cairo and is one of the most industrialized municipalities in the country. The new dry port is expected to improve the efficiency of Egypt’s transport infrastructure by reducing congestion at seaports and creating the conditions for accelerated customs processes and procedures. Facilitating trade will…

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STEG secures US$359m from EBRD to support the stability of Tunisia’s energy sector

TUNISIA – The European Bank for Reconstruction and Development (EBRD) provided a €300 million (US$359.89m) financing package to the Tunisian Electricity and Gas Company (STEG). The loan will support the stability of Tunisia’s energy sector during the coronavirus pandemic in the medium term, EBRD said in a statement. It will enable STEG to implement an ambitious corporate and climate reform roadmap that would anchor the shift towards a more sustainable and efficiently run company. The loan agreement was signed in Tunis between STEG’s CEO, Hichem Anane, and EBRD’s head of…

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Attijari Bank secures funding from EBRD to strengthen access to finance for MSMEs

TUNISIA – The European Bank for Reconstruction and Development (EBRD) has announced in a press release its plan to strengthen access to finance for Tunisian micro, small and medium-sized enterprises (MSMEs). The Bank is providing Attijari Bank of Tunisia with an unfunded risk-sharing guarantee of 50 per cent on a loan to Enda Tamweel, the leading microfinance institution in the country. Under the EBRD’s Risk Sharing Framework (RSF), Attijari Bank of Tunisia is extending a loan of up to TND20 million (US$7.33m) to Enda Tamweel for on-lending to local MSMEs…

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