- The bank is very keen on supporting the sustainable development objectives of Egypt’s Vision 2030 and its 2040 Energy Strategy.

As part of its Corporate Social Responsibility and in support of Egypt’s efforts to create a sustainable ecosystem that depends on renewable energy as one of the most important sources of energy, NBK-Egypt signed the fourth protocol with Al Orman Association to fund the fourth stage of the solar power plant that provides electricity to “Shefaa’ Al Orman” hospitals in Luxor, which provides premium services for upper Egypt’s cancer patients.

The protocol was signed by Mr. Walid El-Seyoufi, Deputy Managing Director on behalf of the bank, while Mr. Ahmed El Gendy, Chairman of the Board of Al Orman Association, signed on behalf of the Association, in the presence of Mr. Yasser Al-Tayeb, Vice Chairman, CEO and Managing Director of NBK-Egypt, Eng. Hossam Al-Qabbani, Al Orman Association founder and Honorary President for Life. Moreover, attending the signing ceremony from the bank were Mr. Karim Kamal, Head of Supporting Functions and Sustainability & Sustainable Finance Division, Ms. Hanan Thabet, Head of Human Resources, Eng. Youssef El Assal, Head of Administration & Engineering Affairs, and Ms. Noran Abdel Rahman, Manager of the Corporate Social Responsibility (CSR) Unit.

This protocol comes in line with the sustainable development goals of Egypt’s 2030 Vision and Egypt’s Energy Strategy 2040, and a continuation of the bank’s previous initiatives, during which it solely financed the first three phases of the solar power plant.

With this protocol, the bank’s total contributions to the development of all phases of the power plant will amount to approximately EGP 59 million by 2029. The plant, in all its phases, is expected to provide approximately 40% of the hospitals’ electricity needs, contributing to cost reduction and the creation of a safe and healthy environment for the patients.

It is worth noting that NBK is constantly keen on supporting all sustainable projects and initiatives in every country it operates, and it has truly made significant progress in the field of ESG, making sustainability a pillar in all its operations, business models, and corporate culture, and further leading the way to a low-carbon and sustainable economy.