IFC, Attijariwafa Bank Egypt sign $10M financing deal to support SMEs
Updated 11/5/2025 8:02:00 AMArab Finance: The International Finance Corporation (IFC) and Attijariwafa Bank Egypt launched a $10 million local-currency risk-sharing facility to support financing for small and medium-sized enterprises (SMEs) and boost job creation, according to an emailed press release.
IFC, a member of the World Bank Group, will cover up to 50% of the credit risk on the bank’s SME loan portfolio of up to $20 million (nearly EGP 100 million at time of publication).
The facility is expected to enable Attijariwafa Bank Egypt to expand its SME loan portfolio by more than 50% over the next five years.
At least 25% of loans will be earmarked for women-owned businesses, and 50% directed to SMEs in vulnerable communities.
This initiative is supported by a $2.50 million investment from the blended finance facility. It is under the Prospects Partnership (PROSPECTS), a program spearheaded by the Government of the Netherlands.
PROSPECTS aims to enhance access to education, social protection, and decent employment for host communities and forcibly displaced populations across East Africa and the Middle East.
The agreement was formalized on the sidelines of the Africa Financial Industry Summit, co-hosted by IFC, Jeune Afrique, and Morocco.
Mouawia Essekelli, CEO & Managing Director of Attijariwafa Bank Egypt, stated: “This partnership with IFC highlights our shared commitment to promoting financial inclusion and sustainable growth in Egypt.”
Essekelli added: “Through this risk-sharing facility, Attijariwafa Bank Egypt will further enhance access to finance for SMEs, reinforcing their role in fostering a resilient, green, and inclusive economy.”
Meanwhile, Ethiopis Tafara, IFC’s Vice President for Africa, commented: “By providing this risk-sharing facility, we are advancing financial inclusion, closing the financing gap for underserved markets, and catalyzing job creation and economic resilience across Egypt.”
The project aligns with the World Bank Group’s Country Partnership Framework for Egypt (FY23–27), which supports the creation of conditions for green, resilient, and inclusive development.
This comes within the framework of IFC’s strategy in Egypt by bolstering employment and inclusion through improved access to finance for SMEs, a sector that represents around 97% of all formal enterprises in the country and contributes more than one-third of GDP.
Since beginning operations in Egypt in 1976, IFC has invested and mobilized more than $10 billion in development projects in the country. It currently maintains an investment portfolio of about $2.5 billion and an advisory portfolio of over $22 million.
While focusing on climate, gender and job-creating themes, IFC supports fintech, finance, manufacturing, logistics, ports, renewable energy, tourism, healthcare, and other sectors.
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