On 16 April 2025, EBRD hosted a high-level event at the St. Regis Hotel in Cairo to mark the successful conclusion of the Green Economy Financing Facility – “GEFF Egypt I”. The event celebrated the results and achievements of over 8 years of activities aimed at accelerating private sector-led green investments across Egypt.
Since its launch in 2017, “GEFF Egypt I” mobilized over €140 million through six credit lines with 4 partner banks (Qatar National Bank AlAhli (QNBA), National Bank of Kuwait (NBK), Bank of Alexandria (Alex Bank) and Arab African International Bank (AAIB). Offering green financing to 130 green projects across 18 governorates, GEFF Egypt I helped businesses improve their profitability and competitiveness through the adoption of climate-smart technologies and solutions that helped the Egyptian economy in its green transition to a more climate sensitive practice. The program led to a reduction in energy consumption of 1,153 GWh corresponding to 287,514 tons CO2eq emission mitigated every year.
The event also underlined the successful alliance of development partners such as the EBRD and the European Union (EU) to establish an effective model for climate finance in Egypt. The contribution of the EU as a strategic partner and a key contributor supporting technical assistance and providing financial incentives, and the provision of capital finance from the European Investment Bank (EIB) and the Agence Francaise de Developoment (AFD) made the GEFF platform a model to replicate.
The event welcomed over 120 participants, including senior representatives from the Egyptian government, commercial banks, private sector investors and development partners organizations. In her keynote remarks, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, emphasized that “Green economy financing represents our commitment to building a resilient and inclusive economy,” and welcomed the launch of the second phase of GEFF to expand the footprint of climate finance in Egypt.
Mark Bowman, Vice President for Policy and Partnerships at EBRD, reaffirmed the Bank’s commitment to climate finance, stating that “GEFF Egypt demonstrates how targeted green investment, combined with strong partnerships and technical support, can deliver real impact on the ground and accelerate the country’s green transition.”
Representing the EU Delegation to Egypt, Lorenzo Vingut, Team Leader, Green and Sustainable Transition Cooperation Section, highlighted the European Union’s ongoing support, noting that “The EU remains firmly committed to supporting Egypt’s sustainable growth through climate-focused investments.”
A key highlight of the event was the awards ceremony, where partner banks, sub-borrowers and service providers were recognized for their contribution to building a successful base for sustainable investment in Egypt.
The event also marked the transition to GEFF Egypt II, which will unlock $175.5 million for new climate-focused investments, including circular economy practices and sustainable land management. As part of Egypt’s broader climate finance strategy, the EU remains a key partner in expanding this work under the global climate action agenda.
For more information about GEFF II, click here.
AAIB’s Award
Alex Bank’s Award
QNB’s Award
NBK’s Award
Giza Spinning Award
Solarize’s Service Provider Award
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