The National Bank of Egypt (NBE) has managed to fund 96 companies operating in the industrial, tourism, and service sectors, with a total financing of $424m.
These loans were directed to several areas, including machinery and equipment. This financing aimed to reduce carbon emissions and combat industrial pollution at a value of $93m, financing new and renewable energy and energy efficiency for $47m, and financing environmentally friendly projects with $284m.
NBE has taken proactive steps towards providing credit lines and special financing programs to support strategic plans for climate change since 1998, and the most important of these projects is to combat pollution and maintain energy.
In 2019, the Bank established a specialized department for financing programs in the field of sustainable development projects.
The Bank also obtained credit facilities from international institutions with the aim of expanding financing projects related to climate preservation, in addition to cooperating in establishing a climate change strategy and establishing an environmental and social management system.
NBE is participating in COP27 from November 6 to 18, 2022 in the Green City Sharm El Sheikh, in the presence of Hisham Okasha, Chairperson of the NBE; Yahia Abou El-Fotouh and Dalia El-Baz, deputy chairpersons of the Bank, along with a delegation that is specialized in the areas of strategic planning, sustainable finance, international financial relations, investment, large companies and small and medium enterprises in the bank.
On the sidelines of the conference, the Bank will sign an agreement with Banque Misr and Banque du Caire for new financing with the French Agency for Development (AFD) of €140m, in addition to a grant of €10m provided by the European Union, with the aim of expanding opportunities for financing micro, small and medium enterprises related to climate action to achieve sustainable development goals in line with Egypt’s 2030 vision.
During the conference, NBE will participate in several specialized panel discussions addressing climate change as well as the effects, opportunities and challenges associated with it.
NBE provides ATMs to all conference participants, as the conference headquarters is equipped with a number of fixed and mobile ATMs, which include ATMs designated for people with special needs, in addition to the bank’s network of branches and ATMs located in Sharm El-Sheikh.
NBE has more than 38 branches and main centers affiliated with it that are now powered by solar energy, which promotes energy efficiency and responsible use of natural resources, with a special focus on fair and affordable transition in this field.
The bank opened its first solar-powered branch in 2015 to be the beginning of implementing a strategy for using solar energy in all its premises.
