Cairo – Mubasher: Frankfurt-based KfW Development Bank plans to open a credit line for Egyptian banks to finance energy efficiency projects.
The final decision regarding the credit line will be announced later this year, director of KfW Cairo office Burkhard Hinz told Almal News.
The German bank’s financing portfolio for projects over the past period reached around EUR 5.5 billion, while the current financing amounts to nearly EUR 2.4 billion, he indicated.
It is worth noting that Egypt and Germany had signed an agreement to set up two offices for each of the KfW and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) in Cairo.
