{"id":611135,"date":"2023-12-03T00:00:00","date_gmt":"2023-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/cib-secures-usd-148-mn-in-financing-from-afdb-to-support-smes\/"},"modified":"2023-12-03T00:00:00","modified_gmt":"2023-12-03T00:00:00","slug":"cib-secures-usd-148-mn-in-financing-from-afdb-to-support-smes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/cib-secures-usd-148-mn-in-financing-from-afdb-to-support-smes\/","title":{"rendered":"CIB secures USD 148 mn in financing from AfDB to support SMEs"},"content":{"rendered":"

The African Development Bank (AfDB) has approved a USD 148 mn financial <\/strong>package for <\/strong>CIB<\/strong>, which will be used to on-lend to its clients and strengthen its capital position, AfDB said in a statement<\/a> on Thursday. The package includes a USD 90 mn subordinated loan and several lines of credit worth USD 58 mn, and will help the private-sector lender meet the FX needs of SMEs and corporates, according to the statement,<\/p>\n

This part of a wider lending program: <\/strong>The AfDB\u2019s country manager said last month<\/a> the lender is lining up USD 349 mn of financing for public- and private-sector projects, USD 148 mn of which would be earmarked for on-lending to MSMEs and firms in the agriculture, renewables, desalination, and logistics sectors.<\/p>\n

ICYMI- <\/strong>The AfDB last week <\/strong>signed off<\/a><\/strong> on a USD 131 mn support package for Egypt<\/strong> that will \u201cpromote private-sector development, support economic diversification and green transition.\u201d<\/p>\n

GIZA ZOO FACELIFT BACKED BY CHINESE FUNDS-<\/strong><\/p>\n

Military gets financing for Giza Zoo revamp: <\/strong>The Chinese Development Bank and the National Bank of Egypt will provide a EGP 832 mn long-term loan to the consortium of military-linked companies renovating the Giza Zoo and adjacent Orman botanical gardens, the Egyptian lender said in a statement (pdf)<\/a> last week.<\/p>\n

Remember:<\/strong> A consortium of companies including the National Authority for Military Production and Abnaa Sinai Construction and Building were awarded a 25-year contract last year to renovate and manage the historic sites. <\/p>\n

Bernard Harrison as consultant + Worldwide Zoo for operations:<\/strong> Wildlife and ecotourism design company Bernard Harrison & Friends<\/a> will serve as a technical consultant on the project, and the UAE-based Worldwide Zoo<\/a> will carry out the operational work for the park, according to the statement read. <\/p>\n","protected":false},"excerpt":{"rendered":"

The African Development Bank (AfDB) has approved a USD 148 mn financial package for CIB, which will be used to on-lend to its clients and strengthen its capital position, AfDB said in a statement on Thursday. The package includes a USD 90 mn subordinated loan and several lines of credit worth USD 58 mn, and […]<\/p>\n","protected":false},"author":1,"featured_media":611136,"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":[7274],"tags":[1376,204,240,88,975,72,7307],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-african-development-bank","tag-banking","tag-cib","tag-debt-watch","tag-egypt-china-relations","tag-enterpriseam","tag-military","wpautop","entry"],"acf":{"mongo_id":"ae88f907-c8a5-4df1-95a0-b5b50022e8d5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/25.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CIB secures USD 148 mn in financing from AfDB to support SMEs","related_issue":[611116],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.1212fbdf-1166-434c-beff-143ff9865f45.mp3"},"yoast_head":"\nCIB secures USD 148 mn in financing from AfDB to support SMEs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/cib-secures-usd-148-mn-in-financing-from-afdb-to-support-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB secures USD 148 mn in financing from AfDB to support SMEs\" \/>\n<meta property=\"og:description\" content=\"The African Development Bank (AfDB) has approved a USD 148 mn financial package for CIB, which will be used to on-lend to its clients and strengthen its capital position, AfDB said in a statement on Thursday. 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The bank will also prepare a new five-year partnership strategy for its investments in Egypt as of 2020, Blomberg said, without providing any details on the amount of\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624314,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/afdb-to-disburse-usd-500-mn-loan-tranche-in-coming-days\/","url_meta":{"origin":611135,"position":2},"title":"AfDB to disburse USD 500 mn loan tranche in coming days","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"AfDB to disburse third USD 500 mn tranche of loan: Speaking of foreign borrowing, Egypt can expect receipt within days of a third and final USD 500 mn tranche of a USD 1.5 bn loan from the African Development Bank (AfDB), the bank\u2019s country manager for Egyopt, Malinne Blomberg, said\u2026","rel":"","context":"In "Speed Round"","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":648354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/02\/egypt-receives-second-tranche-of-the-usd-1-5-bn-afdb-loan\/","url_meta":{"origin":611135,"position":3},"title":"Egypt receives second tranche of the USD 1.5 bn AfDB loan","author":"enterpriseam admin","date":"2 April 2017","format":false,"excerpt":"Egypt has received a USD 500 mn tranche of the USD 1.5 bn African Development Bank loan (AfDB), Investment and International Cooperation Minister Sahar Nasr announced on Friday. Reuters notes that the loan will support projects including social housing, youth employment, and sanitation work, but earlier speculation suggested the funding\u2026","rel":"","context":"In "Speed Round"","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":682143,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/01\/20\/private-sector-gets-a-boost-from-the-afdb\/","url_meta":{"origin":611135,"position":4},"title":"Private sector gets a boost from the AfDB","author":"enterpriseam admin","date":"20 January 2026","format":false,"excerpt":"PLUS- Marakez secures financing for District 5 expansion","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/713.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646454,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/14\/afdb-plans-to-allocate-usd-40-mn-to-shapoorji-fit-projects\/","url_meta":{"origin":611135,"position":5},"title":"AfDB plans to allocate USD 40 mn to Shapoorji FiT projects","author":"enterpriseam admin","date":"14 June 2017","format":false,"excerpt":"The African Development Bank (AfDB) is looking to allocate another c.USD 40 mn in funding to two solar feed-in tariff (FiT) projects by India\u2019s Shapoorji Pallonji Group, sources tell Al Borsa. Shapoorji has already signed agreements with AfDB, the IMF, and the Islamic Bank to finance its USD 85 mn\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=611135"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611135\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611136"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611135"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611135"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}