{"id":323311,"date":"2021-09-09T12:16:04","date_gmt":"2021-09-09T12:16:04","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323311"},"modified":"2021-09-12T12:25:31","modified_gmt":"2021-09-12T12:25:31","slug":"nbk-will-get-25b-from-ebrd-to-promote-energy-efficiency-renewable-energy-in-egypt","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/09\/nbk-will-get-25b-from-ebrd-to-promote-energy-efficiency-renewable-energy-in-egypt\/","title":{"rendered":"NBK will get $25B from EBRD to promote energy efficiency, renewable energy in Egypt"},"content":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) announced securing a loan of $25 billion to the National Bank of Kuwait Egypt (NBKE).<\/p>\n

EBRD clarified in a statement that this step comes in its endeavors to boost renewable energy and energy efficiency in Egypt.<\/p>\n

According to EBRD, 15 percent of the total loan amount is being co-financed by the Green Climate Fund (GCF).<\/p>\n

\u201cThe funds will be on lent to Egyptian small and medium size enterprises (SMEs) and households to finance investments to mitigate the impacts of climate change. The application of new technologies is expected to promote the transition to an environmentally sustainable, low-carbon and climate resilient economy in Egypt,\u201d it clarified.<\/p>\n

It added that the GCF and EBRD\u2019s partnership for transformation has seen the GCF support six EBRD program to the tune of $ 830 million, catalyzing more than $ 3.6 billion in total project value. The GCF is the world\u2019s largest climate fund, supporting developing-country efforts to respond to the challenges of climate change.<\/p>\n

This loan is being extended under the EBRD\u2019s Green Economy Financing Facility (GEFF), which provides finance and advice to private-sector businesses to support Egypt\u2019s green economy transition. The facility has a financing pool worth \u20ac140 million for energy-efficiency and renewable energy investments.<\/p>\n

NBKE is an Egyptian joint stock company and a subsidiary of the NBK group. It has been a partner of the EBRD since 2015, when it agreed an SME loan and a trade finance facility, followed in 2016 by an energy-efficiency loan under the Egypt GEFF.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) announced securing a loan of $25 billion to the National Bank of Kuwait Egypt (NBKE).<\/p>\n","protected":false},"author":4,"featured_media":321294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[282],"class_list":["post-323311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-partners","tag-national-bank-of-kuwait-nbk"],"yoast_head":"\nNBK will get $25B from EBRD to promote energy efficiency, renewable energy in Egypt - egy-africa<\/title>\n<meta name=\"description\" content=\"The European Bank for Reconstruction and Development (EBRD) announced securing a loan of $25 billion to the National Bank of Kuwait Egypt (NBKE).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/09\/09\/nbk-will-get-25b-from-ebrd-to-promote-energy-efficiency-renewable-energy-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBK will get $25B from EBRD to promote energy efficiency, renewable energy in Egypt - 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