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CIB to get $20M facility from EBRD

CIB to get $20M facility from EBRD

ArabFinance: The European Bank for Reconstruction and Development (EBRD) is expected to provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI), the international financial institution recently revealed on its website.

The loan will be dedicated for on-lending to private small- and medium-sized enterprises (SMEs) led by women in Egypt.

The facility has passed a final review and is now subject to the approval of EBRD on June 9th.

CIB is Egypt’s largest private bank, with total consolidated assets of $32 billion as of December 2021.

The EGX-listed bank provides banking services across the country through more than 200 branches and units.

The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.

 

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