Energy Efficiency Funding for Egypt

THREE international development banks have joined the EU to promote green investments in Egypt, supporting projects to boost energy efficiency and renewable energy sources in the country.

The European Bank for Reconstruction and Development (EBRD), the Agence Française de Développement (AFD), the European Investment Bank (EIB) and the EU launched their new Green Economy Financing Facility (GEFF) for Egypt.

The €140 million programme for Egypt will provide loans for energy efficiency and small-scale renewable energy investments by private companies through a group of participating banks, with the aim of also achieving energy security.

The loans are combined with technical support to develop projects and with incentives for the successful completion of investments, thus producing a unique product aimed at promoting energy-efficient and renewable energy technology, raising awareness, reducing operating costs and improving competitiveness.

The programme is being supported by an EU grant of €23.8 million. The National Bank of Kuwait (NBK) in Egypt and the Qatar National Bank (QNB) AlAhli in Egypt are the first banks to participate in the new facility.

The European Union Neighbourhood Investment Facility (EU NIF) is providing the funds for incentives to complete investments, while the comprehensive technical-assistance package is jointly funded by the EU NIF and the EBRD’s Shareholder Special Fund.

Source: EBRD. Picture: San Stefano Grand Plaza in Alexandria by Dennis Jarvis, CC BY-SA 2.0,

Monday 27th March 2017

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