The European Bank for Reconstruction and Development (EBRD) is providing a loan of $100 million to Banque Misr for on-lending to local small and medium-sized enterprises (SMEs) to support the green economy in Egypt, according to a press release on September 9th.

Following the success of the Green Economy Financing Facility (GEFF) in Egypt, this loan will bolster green lending in the country to underserved regions for investments in climate change mitigation and adaptation technologies.

Under a technical assistance program funded by EBRD and Netherlands through the High Impact Partnership on Climate Action, Banque Misr will also receive €2.3 million to support the execution of the program and to raise awareness of green financing.

The assistance program is also backed by Austria, Finland, Switzerland, TaiwanICDF, and the UK.

“The EBRD is committed to promoting green investments in the economies where it invests and greening the financial system. This new partnership with Banque Misr builds on our successful cooperation and is in line with our country strategy to promote a green, competitive and inclusive economy,” EBRD Managing Director for SEMED Heike Harmgart said.

On September 7th, President of the EBRD Odile Renaud-Basso announced that the bank plans to invest up to $1 billion in renewable energy projects in Egypt.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (