European Bank for Reconstruction and Development

Erstellungsdatum 20.08.2023

25 haben sich bereits beworben

Egyptian German Company for Industrial Corporation

Project Description

Provision of a USD 50 million long-term working capital facility to the Egyptian German Company for Industrial Corporation ("EGIC" or the "Company") to support their working capital requirements for 2024.

Project Objectives

The project will help secure part of EGIC's hard currency denominated working capital needs for 2024 amidst the current volatile economic environment to provide a stable and reliable supply of products to the market. Furthermore, the Loan will help diversify the Company's access to essential USD funding to import its raw materials and decrease its reliance on short term funding.

Transition Impact

ETI score: 67

Primary quality - Resilient: In light of the tightening foreign currency availability, the envisaged long-term working capital financing will support the resilience of the Borrower by securing their imported raw material needs for the year 2024.

Secondary quality - Inclusion: EGIC continues its commitment to impact human capital development within the plumbing sector as well as its professionalization by: i) establishing the country's first dedicated vocational school for sanitary and plumbing occupations in partnership with Egypt's Ministry of Education and Technical Education (MoETE); and 2) broadening the roll-out of its entry-level training for young plumbers in several under-served regions of Egypt.

Client Information


Egyptian German Company for Industrial Corporation S.A.E. ("EGIC or the "Company") is an Egyptian joint stock company specialized in manufacturing plastic water pipes. The Company is the leading player in the local market.

EBRD Finance Summary

USD 50,000,000.00

Total Project Cost

USD 50,000,000.00


Financing Structure: The EBRD facility will provide stable working capital funding compared to the current short-term working capital facilities available to the Borrower.

Non-Financial Additionality: EGIC will launch a new Leadership Incubator Training Program that will enhance staff members' skills towards promotion into middle-managerial and more senior roles within the Company. EGIC will dedicate an agreed quota for female staff to foster more open and diverse career progression opportunities for them.

Environmental and Social Summary

Categorised B (2019 ESP). EGIC is an existing client of the EBRD and has been exhibiting well qualified management and reporting practices as part of their standard ESMS which is fully and systematically integrated into broader company management and certified to ISO 9001, 14001 and 45001 by independent bodies. The Bank's due diligence included a detailed review of their previous audit reports, E&S documentation and a site visit to one of the main operation sites in the industrial zone of 6th of October city, Egypt. Due diligence focused on the corporate systems and current performance as the transaction involves the provision of working capital needed for importing essential raw materials needs amidst the current volatile FX and economic environment. The site visit confirmed that the facility operates in accordance with the HSE policies of EGIC, which in turn follows the Bank's Performance Requirements. No major non-compliance was identified from the previous audits. EGIC demonstrates a strong leadership on HSE both at corporate and facility levels while ensuring that Contractors align with EGIC's HSE requirements via contracting process. There is a grievance mechanism in place with a good track of monitoring records. Due diligence did not identify any significant issues related to PR2 and PR4. The key environmental aspects included compliance with emission levels on SOx, COx and NOx subject to regular monitoring and resource efficiency. In terms of workplace air quality management, regular monitoring practices for fugitive air emission sources is deemed as essential. There is no environmental non-compliance reported. EGIC also adopted several resource and energy efficiency measures while exploring opportunities for on-site generation of renewable energy. The project is considered Paris aligned for climate mitigation as it is not defined as high-emitting and it features in the joint MDB "aligned list". The PC risk score of the project is 2. The project is deemed not significantly exposed to physical climate risks and is considered Paris aligned for climate adaptation. There is no GET component associated with the project. An ESAP has been developed and agreed prior to the Final Review in line with the findings of the site visit associated to those PRs.

Technical Cooperation and Grant Financing


Company Contact Information

Omar Safeyeldin
+2 01001691313
53, al manial street, Cairo, Egypt

PSD last updated

21 Aug 2023

Related material

var projFinderService = '/project-finder-json?1=1'; var projectId = "54249";

Understanding Transition

Further information regarding the EBRD's approach to measuring transition impact is available here .

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement :

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form .

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting "environmentally sound and sustainable development". The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders' concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project's environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD's practices in this regard is set out in the ESP .

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to . All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form .

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client's Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD's Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy ; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email to get guidance and more information on IPAM and how to submit a request.

Mehr Jobs in Ägypten

Cookies benutzt Cookies um die bestmögliche Funktionalität der Webseite bieten zu können. Durch die weitere Anwendung dieser Webseite stimmst du der Verwendung von Cookies zu.