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  • EBRD promotes energy efficiency and renewable energy in Egypt

EBRD promotes energy efficiency and renewable energy in Egypt

Sep 13 2021


The European Bank for Reconstruction and Development (EBRD) is boosting renewable energy and energy efficiency in Egypt with a US$ 25 million loan to the National Bank of Kuwait Egypt (NBKE). Fifteen per cent of the total loan amount is being co-financed by the Green Climate Fund (GCF).

The European Union (EU) will support the financing to NBKE with up to €2,560,000  of EU funds for incentive payments to projects that are successfully implemented and verified. The EU will also provide a comprehensive technical assistance package of up to €6.2 million for all participating financial institutions and their clients, as well as for policy dialogue.
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Source: EU Neighbours South - News