Commercial International Bank (CIB) (2024)
| Signing Date | 05 Apr 2021 |
| Region of Headquarters: | Middle East & Africa |
| Current EPFI Reporting Year/Period: | 2024 |
| Institutional Reporting: | Link to Report - Link to Additional Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 5
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 2 | 2 | |
| Oil & Gas | |||
| Power | |||
| Others | 1 | ||
| Region | |||
| Americas | |||
| Europe, Middle East & Africa | 2 | 3 | |
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 2 | 3 | |
| Both | |||
| Independent Review | |||
| Yes | 2 | ||
| No | 3 | ||
| Totals | 2 | 3 | |
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project Finance
Total number that reached Financial Close in the reporting period: 1
| Sector | |
|---|---|
| Mining | |
| Infrastructure | 1 |
| Oil & Gas | |
| Power | |
| Others | |
| Sub-Total | 1 |
| Region | |
|---|---|
| Americas | |
| Europe, Middle East & Africa | 1 |
| Asia Pacific | |
| Sub-Total | 1 |
| Country Designation | |
|---|---|
| Designated Country | |
| Non Designated Country | 1 |
| Both | |
| Sub-Total | 1 |
Project Name Reporting For Project Finance (And Project-related Refinance & Project-related Acquisition Finance For Project Finance)
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 6
Under EP4, project name reporting is required for Project Finance transactions that have reached Financial Close and encouraged for Project-Related Corporate Loans that have reached Financial Close.
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 1
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 1 | ||
| Oil & Gas | |||
| Power | |||
| Others | |||
| Region | |||
| Americas | |||
| Europe, Middle East & Africa | 1 | ||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 1 | ||
| Both | |||
| Independent Review | |||
| Yes | |||
| No | 1 | ||
| Totals | 1 | ||
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project Name Reporting For Project-related Corporate Loans (And Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans)
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 1
Under EP4, project name reporting is encouraged for Project-Related Corporate Loans that have reached Financial Close and required for Project Finance transactions that have reached Financial Close.
EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
CIB has adopted the equator principles in order to ensure that the Projects we finance and advise on are developed in a manner that is socially responsible and reflects sound environmental management practices.
CIB commit to implementing the Equator Principles through our internal environmental and social policies, procedures and standards for financing Projects.
In alignment with the SDGs, Paris Climate Agreement, and CIB’s Sustainability Policy and long-term sustainability goals, CIB has put in place an Environmental and Social (E&S) Risk Management System, with the following broad objectives:
▪ Manage Environmental and Social (E&S) risks in the overall project/facility cycle,
▪ Set an example for social and environmental potent practice,
▪ Strive to conserve natural resources, protect the environment and put into consideration the standards of living for those affected by its operations,
▪ Inspire and encourage sustainable practices among all stakeholders, including partners and co-investors to improve project development, implementation, monitoring and project conclusion
CIB Environmental and Social Risk Management System has its standards of procedures which apply the following standards in the E&S assessment process: IFC Performance Standards, EBRD Performance Requirements and The Equator Principles.
E&S Risk Categorization
As part of the review of environmental and social risks and impacts of a proposed finance, the bank uses the IFC/EBRD process of environmental and social categorization to reflect the magnitude of risks and impacts in addition to the categorizations list by Egyptian Ministry of Environment. These categories are:
▪ Category A: Business activities with potential significant adverse environmental or social risks and/or impacts that are diverse, irreversible, or unprecedented.
▪ Category B: Business activities with potential limited adverse environmental or social risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures.
▪ Category C: Business activities with minimal or no adverse environmental or social risks and/or impacts
CIB has established a checklist / Environmental and Social (E&S) Concurrence to identify the potential E&S risks. The checklist is mainly composed of the eight (8) E&S aspects/ IFC Performance Standards:
✓ Performance Standard 1: Assessment and Management of Social and Environmental Risks and Impacts
✓ Performance Standard 2: Labor and Working Conditions
✓ Performance Standard 3: Resource Efficiency and Pollution Prevention
✓ Performance Standard 4: Community Health, Safety, and Security
✓ Performance Standard 5: Land Acquisition and Involuntary Resettlement
✓ Performance Standard 6: Biodiversity Conservation and Sustainable Management of Living Natural Resources
✓ Performance Standard 7: Indigenous Peoples
✓ Performance Standard 8: Cultural Heritage
Implementation Process & procedure of Equator Principles & Scope of Application
• The Equator Principles have been implemented within Commercial International Bank on project finance activities and project-related corporate loans, project finance advisory services, Bridge Loans, Project-Related Refinance
• The process main implementation steps are performed in three phases
o Phase 1: Project Appraisal and Screening (Screening phase)
o Phase 2: Due Diligence (Pre-financing phase)
o Phase 3: Monitoring (Post-financing phase)
Further details on CIB´s implementation of the EPs, including mandates and roles, are provided at: https://www.cibeg.com/-/media/project/downloads/about-cib/cib-corporate-responsibility-formerly-community/equator-principles-report/cib—equator-principles.pdf