Egyptian banks enhance sustainable financing

The Central Bank of Egypt (CBE) and the country's leading lending institutions have expanded financing for projects aimed at achieving the UN's Sustainable Development Goals (SDGs) and the implementation of Egypt's Vision 2030 strategy. This is reported by Daily News Egypt, a partner of TV BRICS.

It is noted that Egyptian banks have started introducing financial programmes focused on environmental and social sustainability. Special attention is paid to financing projects in the field of renewable energy, waste recycling, as well as support for micro, small and medium-sized enterprises. In addition, banking services for low- and middle-income citizens and people with disabilities have been expanded.

According to the publication, to date, banks have launched more than 24 innovative financial programmes in the field of ecology and social policy. At the same time, 31 credit institutions have introduced financial products that contribute to the development of competitive economy and entrepreneurship, as well as the creation of new jobs. In addition, the financing of educational initiatives is also prominent.

To promote energy transition and fight climate change, banks have introduced green finance and green bond programmes.

The report emphasises that Egypt's banking sector continues to integrate international standards for sustainable finance, strengthening financial stability, and contributing to long-term economic growth.

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