Egypt - The Central Bank of Egypt (CBE) has announced that it will allow the establishment of green banks in the country, as part of its efforts to support sustainable development and environmental protection. The CBE added that sustainable financing is a key factor in achieving the goals of sustainable development, which include creating balanced growth, reducing poverty, improving living conditions, and addressing climate change. These principles are in line with Egypt’s Vision 2030 and the global Sustainable Development Goals. The CBE also launched several initiatives to promote sustainable financing, by providing funds to banks at low interest rates to lend to their customers for various development projects. CBE also directed banks to measure the carbon footprint of their internal activities as a first step towards applying sustainability principles to the bank’s internal activities and work.
