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EBRD supports green energy transition in Egypt with $4.8M loan

EBRD supports green energy transition in Egypt with $4.8M loan

ArabFinance: The European Bank for Reconstruction and Development (EBRD) is granting a loan worth $4.8 million to Intro Sustainable Resources (Intro-SR) and Intro Solar in Egypt, EBRD announced on its website on May 9th.  

The loan will be used to finance the Intro-SR's stake in a portfolio of energy efficiency, waste-to-energy, waste management, and solar photovoltaic (PV) projects.

The projects cover one of Egypt’s first private-to-private energy generation projects that aim to encourage resource consumption efficiency.

Established in the Dubai International Financial Center (DIFC) in 2020, Intro-SR is 100%-owned by Intro Investments Holding and operates in renewable energy development.

EBRD recently announced that it would provide a senior unsecured debt facility of $20 million to the Commercial International Bank Egypt (CIB) (COMI) for on-lending to women-led private small- and medium-sized enterprises (SMEs) in Egypt.

It is worth noting that EBRD has invested over €8.5 billion in Egypt across 144 projects since the beginning of its operations in 2012.

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