IFC and Attijariwafa bank Egypt Partner to Support Small Business Growth and Job Creation

Casablanca, Morocco, November 4, 2025:

IFC, a member of the World Bank Group supporting the private sector, and Attijariwafa bank Egypt launched a local-currency risk-sharing facility equivalent to $10 million to enhance access to finance for small and medium-sized enterprises (SMEs) and foster job creation.

Agreement Details

Under this agreement, IFC will cover up to 50 percent of the credit risk on a new Attijariwafa bank Egypt SME loan portfolio of up to $20 million equivalent in Egyptian pounds (nearly 100 million EGP at time of publication). The facility is expected to help Attijariwafa bank Egypt expand its SME loan portfolio by more than 50 percent over the next five years, with at least 25 percent of loans earmarked for women-owned businesses, and 50 percent directed to SMEs in vulnerable communities.

PROSPECTS Partnership

This initiative is supported by a $2.5 million investment from the blended finance facility under the Prospects Partnership (PROSPECTS), a program spearheaded by the Government of the Netherlands. PROSPECTS aims to improve access to education, social protection, and decent employment for host communities and forcibly displaced populations across East Africa and the Middle East.

Signing at Africa Financial Industry Summit

The agreement was formalized on the sidelines of the Africa Financial Industry Summit, co-hosted by IFC, Jeune Afrique, and the Kingdom of Morocco. The summit brought together policymakers, investors, and regulators to discuss how African savings can stay on the continent and fund growth in local currency.

Statements from Attijariwafa Bank Egypt

In this context, Mr. Mouawia Essekelli, CEO & Managing Director of Attijariwafa bank Egypt stated, “This partnership with IFC highlights our shared commitment to promoting financial inclusion and sustainable growth in Egypt. 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. It reflects our Group’s vision of building enduring bridges across African economies and empowering the private sector to deliver long-term impact.”

Statements from IFC

“IFC’s partnership with Attijariwafa bank Egypt will unlock new financing for SMEs, women entrepreneurs, and businesses in vulnerable communities – helping them grow, create jobs, and strengthen Egypt’s economy,” said Ethiopis Tafara, IFC’s Vice President for Africa. “By providing this risk-sharing facility, we are advancing financial inclusion, closing the financing gap for underserved markets, and catalyzing job creation and economic resilience across Egypt.”

Alignment with Egypt’s Development Goals

The project is aligned with the World Bank Group’s Country Partnership Framework for Egypt (FY23–27), which supports the creation of conditions for green, resilient, and inclusive development. It also aligns with IFC’s strategy in Egypt by fostering employment and inclusion through improved access to finance for SMEs, a sector that represents around 97 percent of all formal enterprises in the country and contributes more than one-third of GDP.

IFC in Egypt

Since beginning operations in Egypt in 1976, IFC has invested and mobilized over $10 billion in development projects in Egypt and currently maintains an investment portfolio of about $2.5 billion and an advisory portfolio of over $22 million. While focusing on climate, gender and job creating themes, IFC’s private sector support in Egypt focuses on fintech, finance, manufacturing, logistics, ports, renewable energy, tourism, healthcare, and other sectors.

In this context, and on the other hand, there are many sector-related news items that you can follow.

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