IFC commits to support clean tech startups to boost solar energy uptake in Egypt

EGYPT —IFC, a member of the World Bank Group, has committed to support clean technology startups in Egypt to help boost solar energy uptake in the country. IFC in a statement said that it is joining forces with the National Bank of Egypt and the Micro, Small and Medium Enterprise Development Agency (MSMEDA) to help strengthen clean-energy focused startups in Egypt. According to IFC, start-ups make up the bulk of players in the photovoltaic (PV) solar water pumping market in Egypt. IFC however noted that these startups are currently unable…

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National Bank of Egypt partners IFC to boost funding for solar-powered water pumps

National Bank of Egypt partners IFC

EGYPT – The National Bank of Egypt (NBE) and the International Finance Corporation (IFC) have partnered to boost funding for solar-powered water pumps in Egypt. A report by Egypt Today said that the two financial institutions signed a cooperation agreement early this month, to formalise the partnership on funding solar-powered water pumps. NBE Chairman Hisham Okasha during the signing ceremony, said the deal shows that the bank is keen on supporting Egypt Vision 2030 and its plans to expand in the sustainable development projects. Okasha further noted that the bank…

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