{"id":610315,"date":"2023-11-19T00:00:00","date_gmt":"2023-11-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cib-to-borrow-usd-150-mn-from-ebrd\/"},"modified":"2023-11-19T00:00:00","modified_gmt":"2023-11-19T00:00:00","slug":"cib-to-borrow-usd-150-mn-from-ebrd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/19\/cib-to-borrow-usd-150-mn-from-ebrd\/","title":{"rendered":"CIB to borrow USD 150 mn from EBRD"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>CIB lands EBRD loan: <\/strong>EGX-listed CIB, the nation\u2019s leading private-sector bank, is getting a USD 150 mn subordinated loan from the European Bank for Reconstruction and Development (EBRD) to strengthen its tier II capital, support growth, and protect it from external economic shocks, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2023\/ebrd-provides-us150-million-to-egypts-cib.html\" style=\"\" rel=\"noopener\">website<\/a>. The exact terms of the loan were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis subordinated loan will not only help CIB further boost its capital base but also support our ambitious growth plans and unlock numerous opportunities the Egyptian market has to offer,\u201d CIB Chairman Hisham Ezz El Arab said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- CIB has been hit by a raft of sovereign credit downgrades:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1b0199c7-5775-402a-9f67-fe5607bd9095\" style=\"\" rel=\"noopener\">Moody\u2019s<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd9ed4ef-7d60-4ee9-8b07-2e60a9069057\" style=\"\" rel=\"noopener\">S&amp;P<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04e2ed79-61e4-47bf-b066-37b85ef38093\" style=\"\" rel=\"noopener\">Fitch<\/a> have all downgraded the bank\u2019s credit ratings deeper into junk territory over the past month due to its exposure to government debt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funds will strengthen the bank\u2019s Tier II capital<\/p>\n","protected":false},"author":1,"featured_media":610316,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[204,240,88,101,571,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-banking","tag-cib","tag-debt-watch","tag-development-finance","tag-ebrd","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"91928deb-5a9f-44fa-aed4-c24eb4f8084a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/943.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CIB to borrow USD 150 mn from EBRD","related_issue":[610304],"teaser":"The funds will strengthen the bank\u2019s Tier II capital","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.8f16a4e3-61de-41d3-83f8-3a572ddc453c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The loan has passed a final review and is now pending approval from the European lender, which is expected to make\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/88.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572306,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/21\/ebrd-to-provide-cib-with-usd-100-mn-to-support-smes-impacted-by-covid-19\/","url_meta":{"origin":610315,"position":1},"title":"EBRD to provide CIB with USD 100 mn to support SMEs impacted by covid-19","author":"enterpriseam admin","date":"21 June 2020","format":false,"excerpt":"DEBT WATCH- EBRD to provide CIB with USD 100 mn to support SMEs impacted by covid-19: The European Bank for Reconstruction and Development (EBRD) will provide the Commercial International Bank (CIB) with a USD 100 mn loan for on-lending to shore up the liquidity positions of SMEs and corporations through\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/203.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":637626,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/21\/ebrd-loan-to-cib-is-credit-positive-moodys\/","url_meta":{"origin":610315,"position":2},"title":"EBRD loan to CIB is credit positive -Moody\u2019s","author":"enterpriseam admin","date":"21 November 2017","format":false,"excerpt":"CIB\u2019s USD 100 mn subordinated loan agreement with the European Bank for Reconstruction and Development is credit positive for CIB, ratings agency Moody\u2019s says. The loan qualifies as Tier-2 capital and will increase the bank\u2019s total capital and protect its total regulatory capital ratio against the risk of further weakening\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574830,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/ebrd-could-extend-usd-100-200-mn-to-two-egyptian-banks-for-sme-lending\/","url_meta":{"origin":610315,"position":3},"title":"EBRD could extend USD 100-200 mn to two Egyptian banks for SME lending","author":"enterpriseam admin","date":"23 September 2020","format":false,"excerpt":"DEBT WATCH- Banks could get another USD 100-200 mn from EBRD to on-lend to SMEs: The European Bank for Reconstruction and Development (EBRD) is in talks with two unnamed local banks to deploy USD 100-200 mn for on-lending to SMEs before the end of the year, associate director and deputy\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637401,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/ebrd-goes-on-a-spending-spree-supporting-egyptian-banks\/","url_meta":{"origin":610315,"position":4},"title":"EBRD goes on a spending spree supporting Egyptian banks","author":"enterpriseam admin","date":"15 November 2017","format":false,"excerpt":"The European Bank for Reconstruction and Development just loaned a crisp USD 325 mn to Egypt\u2019s banks to drive SME lending, export growth and the expansion of banks into Africa.CIB signed an agreement for a USD 100 mn subordinated loan with the European Bank for Reconstruction and Development (EBRD). CIB\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/11\/1008.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572577,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/30\/ebrd-may-increase-financing-to-egyptian-banks-to-usd-1-bn-sources\/","url_meta":{"origin":610315,"position":5},"title":"EBRD may increase financing to Egyptian banks to USD 1 bn -sources","author":"enterpriseam admin","date":"30 June 2020","format":false,"excerpt":"EBRD may boost financing to Egyptian banks by USD 150 mn -sources: The European Bank for Reconstruction and Development (EBRD) is reportedly planning to increase credit lines to Egyptian banks and private companies to USD 1 bn up from USD 850 mn, Al Mal reports, citing an unnamed source. 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