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Arab Finance: The International Finance Corporation (IFC) intends to invest $150 million in Banque Misr in the form of a senior sustainability loan, according to a statement.
The three-year loan is part of a broader approved investment envelope of up to $220 million, with any additional amount subject to further considerations and approvals.
IFC indicated that the proceeds will be directed to support the bank’s lending activities to green and sustainable projects, with 50% directed to climate assets, and 30% of that amount dedicated to funding the bank’s own green buildings.
The remaining 50% will support micro, small, and medium enterprises (MSMEs), including a 20% carve-out to women-owned MSMEs and an uncommitted trade finance facility under IFC Global Trade Finance Program (GTFP).
It is worth highlighting that the project is supported by IFC’s Egypt 30by30 Upstream program.
