NBE and AFD to finance climate conservation and development projects with US$119.15m

EGYPT – The National Bank of Egypt (NBE) and the French Development Agency (AFD) have signed a new credit facility agreement worth €100 million (US$119.15m) with the aim of financing climate conservation and sustainable development projects in Egypt. Chairperson of the NBE, Hisham Okasha, said that the new agreement will allow directing finance and support to the projects that are fully compatible with the sustainable development goals and the environment conservation. Fabio Grazi, Director of the AFD’s Regional Office in Egypt, affirmed the French Agency’s interest in this funding, especially…

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