The European Investment Bank (EIB) and ALEXBANK, a pillar of the Intesa Sanpaolo group, have sanctioned a 15 million-dollar initiative to promote sustainability and energy efficiency in Egypt.
The project, carried out within the Green Economy Financing Facility (GEFF), involves targeted corporate investments in favor of green energy.
This move corresponds perfectly to the country's current priorities and the desire to increase the involvement of the private sector in its development.
S.E. Dr. Rania Al-Mashat, Minister of International Cooperation, welcomed the initiative, highlighting the strategic importance of these funds for accelerating the adoption of ESG principles by the private sector.
Gelsomina Vigliotti, Vice President of the EIB, said: "This new partnership with ALEXBANK will be a formidable catalyst for Egyptian businesses, allowing them to adopt green energy, to reduce energy costs and to actively contribute to the climate cause."
Dante Campioni, CEO of ALEXBANK, underlined the bank's commitment to environmental protection, reflected in this collaboration with the EIB, in full harmony with shared ESG objectives.
The GEFF initiative, part of the broader Egypt Green Economy Financing Facility project, provides financing for business investments through local financial partners, aiming to reduce energy consumption, improve product quality and strengthen the competitiveness of Egyptian companies.
This move jointly supported by the EBRD and supported by the European Union, will help close the investment gap in renewable energy, in line with the SDG 7 sustainability target and the fight against climate change (SDG 13).