EBRD and ALEXBANK supports energy efficiency in Egypt

Under the Green Economy Financing Facility, the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are planning to support energy-efficient and renewable energy investment in Egypt through a financing package to ALEXBANK in the amount of up to US$ 30 million. The EBRD is providing a financing facility of up to US$ 15 million to ALEXBANK for on-lending to private companies for energy-efficiency and renewable energy projects. The EIB is expected to join the facility with an additional US$ 15 million in financing at a later stage and to team up with EBRD to further strengthen sustainable energy measures in Egypt.

The finance line is the third extended under GEFF in Egypt, a comprehensive programme for sustainable energy investment through financial institutions, supported by a €23.3 million grant provided by the European Union Neighbourhood Investment Facility .

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