CDB provides $300 million loan to Banque Misr for on-lending purposes

$300M USD

Funder	China Development Bank (CDB)
Recipient Organization	Banque Misr
Country	Egypt
Start Date	Jan 01, 2023
End Date	Oct 20, 2030
Duration	2,849 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`102636`

Grant Description

CDB provides $300 million loan to Banque Misr for on-lending purposes In 2023, China Development Bank and Banque Misr — a state-owned Egyptian bank — signed a $300 million loan agreement.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

However, it is known that the borrower was expected to use the proceeds of the loan to support the development of more than 9,100 small- and medium-sized enterprises (SMEs) in Egypt working in 29 fields, including food processing, education and training, and auto parts manufacturing. The loan fully disbursed on February 4, 2024.

📋 Staff Comments

The precise loan commitment date is unknown. This issue warrants further investigation.
This loan is also recorded in Boston University's Chinese Loans to Africa Database.

📚 Sources & References

新华财经：中国国家开发银行对埃及银行发放3亿美元非洲中小企业发展专项贷
国开行向埃及银行全额发放“非洲中小企业发展专项贷款”3亿美元
中国国开行向埃及银行发放3亿美元非洲中小企业发展专项贷款 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.