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Proparco signs $30m Sterling Bank energy and agriculture loan
A $30 million facility announced on 29 October allocates 80% to renewable energy and 20% to agricultural SMEs in Nigeria.
Tuesday 3rd November 2026
By inAfrika Newsroom
The International Finance Corporation and European Bank for Reconstruction and Development are investing $100 million each in Banque du Caire’s initial public offering, bringing their combined participation in the Egyptian bank to $200 million.
The EBRD said its investment buys a 6.9% stake. IFC described its holding as approximately 7% in a statement dated 2 November. Both investments are equity purchases rather than loans to the bank.
The offering covers 45% of Banque du Caire’s common shares on the Egyptian Exchange, according to the EBRD. It forms part of Egypt’s programme to sell stakes in state-owned assets and increase private-sector ownership.
IFC said the bank expects to increase the number of customers it finances from about 899,000 to 1.9 million by 2030, while raising total lending from approximately $5 billion to $8.9 billion. Those figures are the bank’s targets, rather than results already achieved.
The EBRD said it would also provide technical assistance for digital systems, cybersecurity and environmental and social risk management. The lender serves corporate, small-business, retail and microfinance customers.
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