EBRD, GCF, EU sign $50M green financing deal with Suez Canal Bank
Updated 9/9/2025 8:57:00 AM
Arab Finance: The European Bank for Reconstruction and Development (EBRD), Green Climate Fund (GCF), and the European Union (EU) jointly signed their first financing package with Suez Canal Bank at a total value of $50 million (€42.6 million), according to a press release.
The package aims to facilitate trade and boost access to finance through green loans to private businesses in Egypt.
It consists of a $25 million loan under the EBRD’s Green Economy Financing Facility, of which $3.75 million is co-financed by the GCF. This will extend on-lending to Egyptian households and private micro, small, and medium-sized enterprises (MSMEs) that are investing in climate adaptation and mitigation technologies within their business.
Additionally, the facility will cover an uncommitted $25 million increase to Suez Canal Bank’s Trade Facilitation Program limit, which will be utilized for guarantees and cash advances.
This will expand the lender’s trade finance business volume, support import and export transactions, and contribute to scaling its correspondent services and trade finance product range.
Meanwhile, the EU will provide up to $2.9 million in incentive grants to benefit eligible sub-borrowers who complete projects successfully and to compensate borrowers for the cost of adopting higher-performing technologies.
Based in Cairo, Suez Canal Bank is an Egyptian commercial bank that operates through 54 branches and employs around 1,700 people across Egypt. Its total assets reached €3.4 billion in 2024.
Since the start of the EBRD's operations in Egypt in 2012, the bank has invested over €13.5 billion in 206 projects in the country.
Related News
