EBRD supports Egypt’s green economy with $100m loan

The European Bank for Reconstruction and Development (EBRD) is supporting the green economy in Egypt with a $100m loan to Banque Misr for on-lending to local small and medium-sized enterprises (SMEs).

The loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt and will support an expansion of green lending in the country to under-served regions for investments in climate change mitigation and adaptation technologies and services.

A technical assistance programme of €2.3m funded by the bank and the Netherlands through the High Impact Partnership on Climate Action (also supported by Austria, Finland, Switzerland, Taiwan, the ICDF, and UK) will also be provided to Banque Misr as sub-borrowers to support implementation of the programme, as well as enhance awareness of green financing, particularly among female entrepreneurs.