Rania Al-Mashat, Egypt’s Minister of International Cooperation, said that the new financing scheme with Alexbank boosts SMEs financing to enhance the efficiency and investments of renewable energy in industrial, commercial, and agricultural sectors. “The EIB works with leading banks around the world to accelerate investment that cuts carbon emissions and harnesses renewable energy. This new partnership with Alexbank will enable Egyptian businesses to embrace green energy, cut energy bills and contribute to climate action. The new $15m EIB framework loan agreed with Alexbank is part of the broader GEFF that provides financing for business investment through local financial partners. In Egypt, the GEFF initiative provides both finance and best-practice advice to help private sector business to improve competitiveness.
Source: Daily News Egypt May 11, 2023 08:04 UTC