The overall objective of this Technical Assistance (TA) operation is to support the expansion of sustainable lending to SMEs in Egypt, supporting SMEs and promoting the development of the private sector, as well as creating and securing employment and income in strategic sectors of Egypt. By increasing understanding of the issues specific to SMEs related lending, as well as introducing the best lending practices available for this segment of the market, the TA will also increase the access to finance for underserved groups, with particular focus on start-up companies and young entrepreneurs, including previously unbanked ones. This TA is being commissioned to support the Egyptian Gulf Bank (EGBANK) lending activities in SME sector in line with its’s strategy and Central Bank of Egypt regulatory requirements with the following purposes: - Support the bank to develop, monitor and increase a sustainable credit portfolio to SMEs; - Strengthening the institutional capacity of EGBANK in order to enable further expansion (deepening and broadening) of its activities in SMEs lending with particular focus on improving current credit analysis and approval process/procedures in line with best SME banking practices; - Supporting EGBANK in design and implementation of a tailor made banking product targeting early stage companies to better serve their specific needs; - Enhancing bank's monitoring and reporting activities in line with regulatory requirements and to ensure that funded projects are implemented according to the relevant standards, including national and those of EIB/IFIs; - Assisting EGBANK in developing and delivering a comprehensive package of non-financial services (NFS) to final beneficiaries in order to: (i) improve access to finance among young entrepreneurs which are already covered by banking sector and those currently unbanked and (ii) support successful development of start-ups and weaker SMEs (e.g. previously unbanked) by addressing their non-financial needs.

Economic Development

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