US$ 40 million loan to QNB to strengthen energy efficiency
The Green Economy Financing Facility (GEFF) is providing US$ 40 million loan to Qatar National Bank Alahli (QNB Alahli) to finance private companies investing in renewable energy and resource efficiency projects in Egypt.
The US$ 40 million consists of US$ 20 million committed by EBRD and US$ 20 million expected to be co-financed by the European Investment Bank (EIB) and supported by a US$ 5.8 million grant provided by the European Union Neighbourhood Investment Facility (EU NIF).
QNB Alahli will extend the financing to small and medium-sized enterprises (SMEs) that wish to invest in energy efficiency and small-scale renewable projects, contributing to the expansion of sustainable energy in Egypt.
Comprehensive technical assistance funded by the European Union Neighbourhood Investment Facility (EU NIF) will provide support to QNB Alahli in the design of business development tools and the successful implementation of the energy-efficiency and small-scale renewable energy facility. It will also allow clients of QNB Alahli to receive support for project implementation as well as incentives, encouraging them to make sustainable energy investments.
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