The Banking Executive Issue - October 2025 Issue

the BANKING EXECUTIVE 58 ISSUE 202 OCTOBER 2025 IFC, Attijariwafa Bank Egypt IFC, Attijariwafa Bank Egypt SIGN $10MLN FINANCING DEAL TO SUPPORT SMES The International Finance Corpora- tion (IFC) and Attijariwafa Bank Egypt launched a $10 million local-cur- rency risk-sharing facility to support financing for small and medium- sized enterprises (SMEs) and boost job creation. 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 publica- tion). The facility is expected to enable At- tijariwafa Bank Egypt to expand its SME loan portfolio by more than 50% over the next five years. At least 25% of loans will be ear- marked for women-owned busi- nesses, 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 spear- headed by the Government of the Netherlands. PROSPECTS aims to enhance access to education, social protection, and decent employment for host commu- nities and forcibly displaced popula- tions 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 & Manag- ing Director of Attijariwafa Bank Egypt, stated: “This partnership with IFC highlights our shared commit- ment to promoting financial inclu- sion 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, com- mented: “By providing this risk-shar- ing facility, we are advancing financial inclusion, closing the fi- nancing gap for underserved mar- kets, 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 con- ditions for green, resilient, and inclu- sive 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 coun- try and contributes more than one- third of GDP. Since beginning operations in Egypt in 1976, IFC has invested and mobi- lized more than $10 billion in devel- opment projects in the country. It currently maintains an investment portfolio of about $2.5 billion and an advisory portfolio of over $22 mil- lion. While focusing on climate, gender and job-creating themes, IFC sup- ports fintech, finance, manufactur- ing, logistics, ports, renewable energy, tourism, healthcare, and other sectors.