Egypt: IFC, AAIB Support Small Businesses and Sustainable Energy Projects in Egypt

press release

Cairo — IFC, a member of the World Bank Group, provides a $100 million loan to the Arab African International Bank (AAIB), to help the bank scale up its lending operations to small and medium enterprises and build its sustainable energy finance portfolio in response to increased energy bills for many companies and SMEs.

About $50 million will be earmarked for SMEs to support the bank's strategy to significantly increase its lending to smaller businesses. The remaining $50 million will be earmarked for introducing credit lines that support energy efficiency, helping businesses that need to make capital investments to refurbish or renovate existing operations to reduce energy costs.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.