Overview

CDB provides $100 million loan to Banque Misr for on-lending to Egyptian SMEs

Commitments (Constant USD, 2023)$109,072,157

Commitment Year•2016Country of Activity•EgyptDirect Recipient Country of Incorporation•EgyptSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 20, 2016

Start (planned): Jan 20, 2016

First repayment (originally scheduled): Jan 19, 2018

Last repayment (originally scheduled): Jan 18, 2021

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned Banks

Banque Misr

Loan description

CDB provides $100 million loan to Banque Misr for on-lending to Egyptian SMEs

Grace period•2 yearsInterest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.