November 29, 2020

NBE receives EUR 100M funding from France


ArabFinance: The National Bank of Egypt (NBE) signed a credit facility agreement worth EUR 100 million (EGP 1.87 billion) with Agence Française de Développement (AFD) for climate projects, Ahram Gate reported.

About 60% of the funding will be allocated for lessening the impact of climate change, according to NBE’s Group Head of Financial Institutions and International Financial Services Hesham el Safty.

He elaborated that the remaining 40% will be directed for carrying out developments on adapting to climate change in the country.

The AFD will also provide the state-run bank with a technical assistance grant worth EUR 1.5 million (EGP 28.07 million), El Safty added.

He noted that the grant comes a part of the transformation program towards implementing climate-friendly financial systems.

Earlier this year, the European Union said it would provide Egypt with EUR 24.8 million (EGP 464.03) grant for climate resilience, by boosting the European Bank for Reconstruction and Development’s Green Energy Financing Facility in the Arab republic.

arabfinance


Categories : finance & economy

Finance & Economy

Egypt approves LE 78.7M to purify Lake Mariout in Alexandria

2021-01-17 07:00:00

CAIRO - 17 January 2021: Egypt's Minister of Planning and Economic Development, Hala El-Saeed approved Saturday LE 78.7 million"...
Read More

Egypt’s permanent representative t...
January 17, 2021
Optimism at Egyptian Exchange performanc...
January 17, 2021

Latest News



finance & economy

Egypt approves LE 78.7M to purify Lake M...
January 17, 2021
Egypt’s permanent representative t...
January 17, 2021
Optimism at Egyptian Exchange performanc...
January 17, 2021