Safwa Loan

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The proposed project entails the following investment package to Safwa Islamic Bank (SIB, Bank): (i) a 5-year senior unsecured financing facility up to of up to US$100 million, from own account and mobilization, structured as an Islamic finance product; (ii) possible additional financing of  up to US$50 million, including mobilization, to be considered at a later stage and after the disbursement of (i); and (iii) an up to US$50 million GTFP trade line for up to one year tenor (the “Project”). SIB is an Islamic private-sector bank headquartered in Amman, Jordan. The senior financing facility proceeds will be earmarked to on-lending to both Small and Medium Enterprises (SMEs) and climate-eligible projects. The proceeds for the possible additional financing are expected to be earmarked to support green buildings in Jordan.The Project is expected to be supported by the Global SME facility (GSMEF) as described in the Blended Finance section.