An EBRD hat-trick: The European Bank for Reconstruction and Development (EBRD) is loosening its purse strings with an approved USD 50 mn loan to Elsewedy’s United Metals Company (UMC) and two loans in the pipeline worth a combined USD 35 mn for aiBank.

  • UMC: United Metals Company, a subsidiary of EGX-listed Elsewedy Electric, is set to receive a USD 50 mn, two-year loan from the lender to finance imports of raw materials and the company’s working capital needs. (EBRD)
  • aiBank #1: The EBRD is considering a senior unsecured USD 25 mn loan to aiBank, USD 3.75 mn of which will be provided by the Green Climate Fund (GCF). The financing will be on-lent to households and MSMEs to support climate and energy-efficiency projects. (EBRD)
  • aiBank #2: The European lender could sign off on a senior unsecured USD 10 mn loan mn to aiBank for on-lending to agribusiness MSMEs (EBRD).

There could be more where that came from: The bank is reportedly considering a USD 150mn loan to the CIB for on-lending to SMEs and environment-friendly projects. The National Bank of Egypt was also reportedly in talks with the lender for a USD 50 mn loan to finance SMEs’ agricultural projects.

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