Egypt - MISR Bank

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 project primarily contributes to climate adaptation results. As such, 34% of the total approved amount is attributed as climate finance, of which 54 million USD is dedicated to adaptation.