CDB provides $100 million loan to Banque Misr for on-lending to Egyptian SMEs
Commitment amount
$ 118080450.8358467
Adjusted commitment amount
$ 118080450.84
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Egypt
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On January 20, 2016, China Development Bank and Banque Misr — a bank that is wholly owned by the Government of Egypt — signed a $100 million loan agreement to facilitate on-lending to Egyptian small and medium enterprises (SMEs). The agreement was signed in Cairo by the Chairman of the China Development Bank (CDB), Hu Huaibang, and the Chairman of Banque Misr, Mohamed Mahmoud Eletreby. The loan carried a grace period of two years and a maturity of five years.
Additional details
1. While both Banque Misr and CDB have both confirmed the issuance of the loan, there are no records of disbursement via publicly accessible financial statements, annual reports, or audits from the financial institutions.
Number of official sources
7
Number of total sources
13
Details
Cofinanced
No
Direct receiving agencies [Type]
Banque Misr [State-owned Bank]
Loan Details
Maturity
5 years
Grace period
2 years