EBRD’s US$ 30 million financing package to Bank of Alexandria kicks-off
The EBRD is supporting energy-efficient and renewable energy investments in Egypt through a financing package to ALEXBANK in the amount of up to US$ 30 million, for on-lending to private companies for energy-efficiency and renewable energy projects.
In November, 2017, the EBRD signed the relevant agreement with ALEXBANK under the Green Economy Financing Facility (GEFF) Egypt, for sustainable energy investment through financial institutions, supported by a €23.3 million grant provided by the European Union Neighbourhood Investment Facility.
Today, an official kick-off meeting took place where the GEFF team conducted an orientation session related to operations, processes and the comprehensive technical assistance that will provide support to ALEXBANK in the design of business development tools and the successful implementation of the energy-efficiency and small-scale renewable energy financing facility.
About ALEXBANK
Established in 1957, today ALEXBANK is one of Egypt’s leading private sector banks, has been a member of Intesa Sanpaolo Group since 2007.
ALEXBANK owns one of the largest private sector branch networks in the country, with a total of 170 branches located in every major Egyptian governorate and about 5,000 employees. ALEXBANK is proud to serve about 1.5 million customers, playing a vital role in Egypt’s economic present and future.
ALEXBANK serves customers from all segments by providing value added financial products, services and solutions to Corporate, SME, Small Business and Retail Customers.
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