Egypt Enhancing Access to Finance for Micro and Small Enterprises

Abstract*

The objective of the Enhancing Access to Finance for Micro and Small Enterprises (MSEs) Project for Egypt is to contribute to a sustainable improvement in inclusive (region and gender) access to finance for MSEs on a commercial basis. There are two components to the project, the first component being line of credit for microfinance. The microenterprise line of credit will be channeled through banks and Non-Governmental Organizations (NGOs), and potential... Show More

Development Objective

The Project's development objective is to contribute to increased access to finance for micro and small enterprises on a sustainable and commercial basis, thus promoting growth, job creation, and an inclusive financial system, as well as ease the impact of the global economic crisis on micro and small enterprises.

Key Details

Project Details

Project ID
P116011
Status
Closed
Team Leader
Laila Ahmed
Borrower 2
Government of Egypt

Country
Egypt, Arab Republic of
Disclosure Date
October 2, 2009
Approval Date
(as of board presentation)
March 9, 2010
Effective Date
August 19, 2010

Total Project Cost 1
US$ 300.00 million
Implementing Agency
The Social Fund for Development
Region
Middle East and North Africa
Fiscal Year 3
2010

Commitment Amount
US$ 300.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
December 31, 2015

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
October 5, 2020

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Finance

FY17 - Financial Infrastructure and Access30%
- FY17 - MSME Finance30%
FY17 - Financial Stability40%
- FY17 - Financial Sector oversight and policy/banking regulation & restructuring40%

FY17 - Private Sector Development

FY17 - Enterprise Development30%
- FY17 - MSME Development30%
FY17 - Jobs100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	300.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	300.00
IDA Commitment	N/A
IBRD + IDA Commitment	300.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	300.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

No data available.

Detailed Financial Activity as of April 30, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jul 1, 2023	IBRD-78500	Int Charges	348,321.78
Jul 1, 2016	IBRD-78500	Int Charges	1,835,166.60
Jul 1, 2023	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2024	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2024	IBRD-78500	Int Charges	118,143.53
Jan 1, 2024	IBRD-78500	Int Charges	6,581,557.00
Jul 1, 2024	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2024	IBRD-78500	Int Charges	45,159.01
Jul 1, 2024	IBRD-78500	Int Charges	6,428,466.50
Mar 9, 2010	IBRD-78500	Loan Commitment	300,000,000.00
Jul 1, 2021	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2022	IBRD-78500	Int Charges	969,885.25
Jul 1, 2022	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2022	IBRD-78500	Int Charges	836,137.44
Jan 1, 2022	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2023	IBRD-78500	Int Charges	244,664.11
Jan 1, 2023	IBRD-78500	Int Charges	4,081,369.50
Jan 1, 2023	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2020	IBRD-78500	Int Charges	3,657,690.00
Jan 1, 2020	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2020	IBRD-78500	Int Charges	3,118,081.80
Jul 1, 2020	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2021	IBRD-78500	Int Charges	1,116,424.60
Jan 1, 2021	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2021	IBRD-78500	Int Charges	957,200.40
Jul 1, 2017	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2017	IBRD-78500	Int Charges	2,654,666.80
Jan 1, 2018	IBRD-78500	Int Charges	2,845,452.80
Jan 1, 2018	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2018	IBRD-78500	Int Charges	3,307,503.50
Jul 1, 2018	IBRD-78500	Loan Repay	6,990,000.00
Jan 1, 2019	IBRD-78500	Int Charges	4,249,937.00
Jan 1, 2019	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2019	IBRD-78500	Int Charges	4,609,340.00
Jul 1, 2019	IBRD-78500	Loan Repay	6,990,000.00
Jul 1, 2013	IBRD-78500	Int Charges	9,824.83
Jul 1, 2013	IBRD-78500	Int Charges	770,447.50
Jan 1, 2014	IBRD-78500	Int Charges	7,912.55
Jan 1, 2014	IBRD-78500	Int Charges	837,930.56
Dec 23, 2013	IBRD-78500	Loan Disb	88,078.83
Feb 18, 2014	IBRD-78500	Loan Disb	21,564,836.00
Jul 1, 2014	IBRD-78500	Int Charges	15.20
Jul 1, 2014	IBRD-78500	Int Charges	790,317.20
Aug 13, 2014	IBRD-78500	Loan Disb	40,748,636.00
Jan 1, 2015	IBRD-78500	Int Charges	935,336.60
Jul 1, 2015	IBRD-78500	Int Charges	1,040,750.00
Jan 1, 2016	IBRD-78500	Int Charges	1,211,333.40
Jan 1, 2017	IBRD-78500	Int Charges	2,024,000.00
Jul 1, 2023	IBRD-78500	Int Charges	5,625,189.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Satisfactory	2015-09-27
Progress towards achievement of PDO	Satisfactory	2015-09-27
Project Management	Satisfactory	2015-09-27
Financial Management	Satisfactory	2015-09-27
Monitoring and Evaluation	Satisfactory	2015-09-27
Overall	Low	2015-09-27
Overall Implementation Progress (IP)	Satisfactory	2015-09-27

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 06-30-2016
Outcomes	Moderately Satisfactory
Risk to Development Outcome	Modest
Bank Performance	Moderately Satisfactory
Borrower Performance	Moderately Satisfactory
Government Performance	Substantial
Implementing Agency	Moderately Satisfactory

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 11-04-2016	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome	Modest	N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance	Moderately Satisfactory	N/a
Government Performance	Moderately Satisfactory	N/a
Implementing Agency	Moderately Satisfactory	N/a
Icr Quality	Substantial	N/a
M&e Quality	Modest	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Increase in total volume of outstanding MSE portfolio of participating financial institutions Value 0.00 18.00 27.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Increase in total number of MSE loans in participating financial institutions Value 0.00 26.00 20.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Increase in number of female MSEs with access to finance Value 15.00 30.00 30.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of female-owned small enterprises served under the line of credit Value 0.00 1201.00 5400.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Overall small enterprise portfolio of participating lenders Value 1,706 LE million LE 8573 million 8,429 LE million
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
SFD small enterprise portfolio Value 1,900 LE million 8000 LE million 4,400 LE million
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Overall microfinance portfolio of participating lenders Value 1,800 LE thousand LE 7529 thousand 7,500 LE thousand
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Number of banks engaged in microfinance lending Value 0.00 4.00 3.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Number of alternative microfinance prodects developed and piloted Value 0.00 2.00 1.00
Date September 23, 2015 December 31, 2015
Comment
Number of microenterprise clients Value 0.00 75460.00 91000.00
Date September 23, 2015 December 31, 2015
Comment
Portfolio at risk for participating MFIs and banks (30 days) Value less than 5% less than 5%
Date September 23, 2015 December 31, 2015
Comment
Total SFD microfinance portfolio Value 1,632 LE million 5600 LE million 4,500 LE million
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Number of female-owned micro enterprises served under the line of credit Value 0.00 23549.00 27000.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Volume of micro financing from the line of credit to participating financial institutions Value 0 461.88 LE million 450.78 LE million
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Person Days of Employment Created Value 0.00 18320000.00 4000000.00
Date June 30, 2013 May 5, 2015 December 31, 2015
Comment
Number of small enterprise clients Value 1000.00 5656.00 25000.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Portfolio at risk for participating banks (90 days) Value 0 less than 5% less than 5%
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Number of banks engaged in small enterprise lending Value 7.00 8.00 10.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Volume of small financing from the line of credit to participating financial institutions Value 0 1388 LE Million 1,350 LE million
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment
Number of new initiatives developed to foster small enterprise lending Value 0.00 2.00 2.00
Date June 30, 2009 September 23, 2015 December 31, 2015
Comment

Increase in total volume of outstanding MSE portfolio of participating financial institutions	Value	0.00	18.00	27.00
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Increase in number of female MSEs with access to finance	Value	15.00	30.00	30.00
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Overall small enterprise portfolio of participating lenders	Value	1,706 LE million	LE 8573 million	8,429 LE million
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

SFD small enterprise portfolio	Value	1,900 LE million	8000 LE million	4,400 LE million
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Overall microfinance portfolio of participating lenders	Value	1,800 LE thousand	LE 7529 thousand	7,500 LE thousand
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Number of microenterprise clients	Value	0.00	75460.00	91000.00
	Date		September 23, 2015	December 31, 2015
	Comment

Portfolio at risk for participating MFIs and banks (30 days)	Value	less than 5%	less than 5%
	Date	September 23, 2015	December 31, 2015
	Comment

Total SFD microfinance portfolio	Value	1,632 LE million	5600 LE million	4,500 LE million
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Volume of micro financing from the line of credit to participating financial institutions	Value	0	461.88 LE million	450.78 LE million
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Person Days of Employment Created	Value	0.00	18320000.00	4000000.00
	Date	June 30, 2013	May 5, 2015	December 31, 2015
	Comment

Number of small enterprise clients	Value	1000.00	5656.00	25000.00
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Number of banks engaged in small enterprise lending	Value	7.00	8.00	10.00
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment

Volume of small financing from the line of credit to participating financial institutions	Value	0	1388 LE Million	1,350 LE million
	Date	June 30, 2009	September 23, 2015	December 31, 2015
	Comment