Arab Finance: QNB Egypt has participated as a lender in financing a sustainable aviation fuel (SAF) production facility in Egypt, according to a press release.

Mohamed Bedeir, CEO of QNB Egypt, signed the agreement to back one of the region’s most significant sustainable infrastructure projects.

The project is expected to produce up to 200,000 tons of biofuel yearly, reducing up to 500,000 tons of carbon dioxide equivalent annually. The commercial operations are expected to kick off by the end of 2027.

Based on International Air Transport Association (IATA) numbers, Green Sky Capital’s new plant will add over 10% to global SAF production alone.

For his part, Abdulla Mubarak Al-Khalifa, QNB Group CEO, commented: “Supporting the development of Green Sky Capital’s SAF facility reflects QNB’s commitment to backing projects that deliver both economic value and long-term sustainability outcomes across the region.”

He added: “Financing innovative, technology-led solutions is a core part of our group strategy. SAF is central to the decarbonization of global aviation, and this project positions the region at the forefront of a strategically important growth sector.”

This financing marks a key milestone in the development of large-scale SAF production capacity in the Middle East and Africa, strengthening the region’s contribution in advancing global energy transition priorities.

Strategically positioned along the Suez Canal, the facility will bolster regional energy security and enhance the region’s role in global sustainable fuel value chains.

QNB Egypt recently signed a medium-term financing agreement valued at EGP 5.5 billion with MARAKEZ, one of Egypt’s largest mixed-use developers.

The lender also expanded its footprint in Egypt by inaugurating its second branch in the New Capital.