The European Bank for Reconstruction and Development (EBRD) is enhancing green investments and small business support in Egypt with a substantial $20 million loan to Crédit Agricole Egypt. This loan, equivalent to approximately €18.5 million, includes $3 million in concessional finance from the Green Climate Fund (GCF) and is designated for on-lending to local small and medium-sized enterprises (SMEs) and households.
The initiative, supported by the European Union (EU), includes up to €2.05 million for incentive payments for successful and verified projects, alongside a comprehensive technical assistance package of up to €6.2 million for participating financial institutions and policy dialogue.
Crédit Agricole Egypt, now the fourth bank in Egypt to benefit from the GCF GEFF Regional Egypt Framework, will extend this financing to various private sub-borrowers. These include individual households and SMEs involved in residential, agribusiness, industrial, commercial, and service sectors undertaking green, energy-efficient, water-efficient, renewable-energy, and resource-efficiency projects.
This program represents a significant step in Egypt’s transition to a greener economy, aligning with the country’s Vision 2030 and promoting high-performance technologies and services in climate mitigation and adaptation. It is the first program of its kind in Egypt and the wider Southern and Eastern Mediterranean (SEMED) region to include both retail and residential segments.
Heike Harmgart, EBRD Managing Director for the SEMED region, expressed enthusiasm about continuing the deployment of GEFF II in Egypt with EU and GCF support. “We are proud to strengthen our partnership with Crédit Agricole Egypt, supporting small businesses and households while increasing finance for greener projects,” she said.
Jean-Pierre Trinelle, Managing Director of Crédit Agricole Egypt, highlighted the bank’s commitment to supporting clients and society through energy transition projects. “Utilizing these funds to assist our customers in completing their energy efficiency projects is core to our strategy and aligns with our commitment to advancing green finance in Egypt,” he added.
Since its operations began in Egypt in 2012, the EBRD has invested over €12.2 billion in 183 projects across the country, focusing on sectors including financial services, agribusiness, manufacturing, infrastructure, and public utilities.
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 has issued a $20 million loan to Crédit Agricole Egypt to support small businesses and green investments. The financing, which includes concessional funding from the Green Climate Fund and EU support, aims to enhance Egypt’s green economy and energy transition.){kind=link}