The International Finance Corporation (IFC) has signed an advisory services mandate to assist Egypt’s leading private financial institution, Commercial International Bank (CIB), in developing retail and small- and medium-size enterprise (SME) finance operations. The North Africa Enterprise Development (NAED), a multi-donor small business development facility managed by IFC, will implement the mandate.
NAED’s mandate is expected to start in September 2003 and run for one year. NAED is to assist CIB in developing and implementing relevant organisations, systems and products to help the bank reach its objectives in terms of growth and quality of its retail and SME operations for the next five years. CIB’s progress in reaching its objectives will be regularly monitored by NAED.
