Egypt - Nasser Social Bank Restructuring Project - Phase I

The present project is a support to the restructure plan of the Nasser Social Bank (NSB). NSB is the largest social bank in the Middle East. It was founded in 1971 and is affiliated with the Ministry of Social Solidarity. It's specializes in granting soft loans and microfinance for low and middle-income citizens and has had an important social role in Egypt, including providng young people with free-yield social loans, financing social housing projects and other social programs such as providing support to divorced women. The Nasser Social Bank Restructuring Project is of two phases and it would take 18 months to finalize each one. The first phase includes examination and identifying needs while the second phase includes implementation. This support will enable the bank to improve its performance through better credit management and better work rules.