EUR 10 billion.. "EBRD" finance 160 projects in Egypt

The European Bank for Reconstruction and Development "EBRD" and the British International Investment Corporation (BII) provided financing of $100 million to Banque du Caire - as one of the largest banks operating in Egypt.

This financing comes in support of the expansion plans adopted by Banque du Caire and the strengthening of the capital structure.

Promote green investments

The European Bank for Reconstruction and Development, through the Green Finance Facility Program in Egypt, has invested €240 million to support resource efficiency, climate change adaptation and the circular economy.

Climate change projects

The European Bank stated that, since it began investing in Egypt in 2012, it has provided financing worth more than 10 billion euros by setting up 160 projects across the country.

The financing includes financial support to the banking sector in the form of loans for small, medium and micro enterprises, sub-loans, and trade financing facilities.

The bank indicated that $175.5 million will be made available to local financial institutions to re-lending them to the private sector.

These funds aim to invest in climate change mitigation and adaptation projects, support carbon removal, and enhance the competitiveness of the Egyptian economy.

Egypt is the largest producer and provider of energy

Egypt is among the largest producers and providers of energy in Africa, and it is also one of the most populated countries in the region with a population of more than 100 million people, so the demand for water and energy is increasing due to climate change and rapid population growth.

On a related level, the "Green Economy Financing Facility" program addresses these challenges by encouraging small, medium and micro enterprises to invest in green and innovative technologies that enhance water use efficiency, sustainable land management, circular economy, and resource efficiency. The program also provides a technical assistance package. financial incentives from the European Union and co-financing on concessional terms from the Green Climate Fund.

support the green transition 

It should be noted that the European Bank for Reconstruction and Development presented strategies to support the green transition in Egypt and discussed the available opportunities, challenges and the ability to adapt to climate change through compliance with the Paris climate agreement.