Proparco is supporting the activity denominated in dollars of Corplease – Egypt’s leading leasing company – and the extension of its network and range of products. This will allow the company to enhance the range of financial services available in the country.
Corplease is the leading leasing company in Egypt. The company offers financing solutions for property and equipment leasing and operates in some twenty sectors. Its clients are major national and international operators in the country, but also smaller companies and SMEs (70% of its portfolio). The company is controlled by CIB, Egypt’s largest private bank and its shareholders include DEG and UBAF (Union des Banques Arabes et Françaises).
Proparco’s credit line will be earmarked to finance the activity denominated in dollars of CORPLEASE. It will also allow CORPLEASE to strengthen its network and extend its range. In addition, it will be combined with technical assistance to help CORPLEASE establish an environmental and social management system.
This operation will contribute to complementing and extending the range of financial services available in the country and to improving access to financing for Egyptian SMEs. Indeed, leasing companies offer more flexible financial products than bank loans and with longer maturities. Proparco’s credit line will also allow CORPLEASE to access financing in dollars, which is not readily available locally.