Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) announced providing a $150 million financing package to the National Bank of Egypt (NBE).
The Egyptian state-run bank will obtain a loan $100 million under EBRD’s Green Economy Financing Facility (GEFF), co-financed by the Green Climate Fund (GCF), EBRD said in a statement on Monday.
The loan will be directed to SMEs to invest in “high-performing technologies” that enhances the efficiency of energy, water and land resources.
“Potential projects include developing technologies such as thermal insulation, photovoltaic solar panels, geothermal heat pumps and water-efficient irrigation systems.”
Moreover, EBRD has launched two new programmes in the most populous Arab nation in collaboration with the NBE to provide a $30 million loan under the Youth in Business programme and a $20 million loan under the Skills in Business programme which will support small enterprises in Egypt.
Operating through a network of 140 financial institutions in 26 countries, the GEFF programme has been supported by about EUR 4.2 billion of EBRD finance for 130,000 customers.
Since 2012, EBRD has invested more than EUR 5.5 billion in 102 projects in Egypt.
