European Bank Explores Ways to Promote Green Financing in Egypt

by nevine

Today, Tuesday, Jan. 31, the European Bank for Reconstruction and Development, the European Union, and the Green Climate Fund (GCF) will hold the Green Economy Financing Facility (GEFF) event entitled “From Pledges to Implementation – Promoting Green Finance” in Egypt.

During the event, the European Bank for Reconstruction and Development and the European Union will present their strategies to support the green transition in Egypt and discuss opportunities and challenges to build climate resilience in the financial sector through alignment with the Paris Climate Declaration.

The European Bank for Reconstruction and Development confirmed that the European Union and the Green Climate Fund strongly promote green financing in Egypt.

Participating in the conference will be Heike Harmgart, Executive Director of the Southern and Eastern Mediterranean Region of the European Bank for Reconstruction and Development, Khaled Hamza, Director of the European Bank for Reconstruction and Development’s Office in Egypt Rania Al-Mashat, Minister of International Cooperation in Egypt, Yasmine Fouad, Minister of Environment, and Ambassador Christian Berger, Head of the European Union Delegation to Egypt, Mai Aboul Naga, Senior Deputy Governor of the Central Bank of Egypt, Ahmed El Sewedy, Chairman of the Board of Directors of the “Chapter Zero Egypt” Association, and Maya Hennrichs, Director of Green Finance Systems, European Bank for Reconstruction and Development.

Until today, the EBRD has provided more than €10 B in financing through 160 projects across Egypt, including financial support to the Egyptian banking sector through micro, small, and medium enterprise loans, sub-loans, and trade finance facilities.

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