Egyptian Commercial International Bank (CIB) Signs Two New Agreements with European Bank for Reconstruction and Development (EBRD) Worth $60 Million
The Egyptian Commercial International Bank (CIB) has signed two new agreements with the European Bank for Reconstruction and Development (EBRD) totaling $60 million, according to EcoFin Agency.
These agreements, concluded during the European Union's investment conference in Cairo (June 29-30), aim to finance green projects and support women-led Small and Medium-sized Enterprises (SMEs) in Egypt.
Out of this envelope, $50 million will be invested in climate change mitigation and adaptation technologies, covering various sectors such as agri-food, manufacturing, services, logistics, distribution, and information and communication technologies.
The remaining $10 million will be dedicated to women-led SMEs, employing fewer than 250 employees and generating an annual turnover of less than €50 million.
