{"id":324644,"date":"2022-02-17T16:18:28","date_gmt":"2022-02-17T16:18:28","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324644"},"modified":"2022-02-20T16:19:12","modified_gmt":"2022-02-20T16:19:12","slug":"ggf-fund-provides-first-of-its-kind-tier-ii-capital-to-banque-du-cairo","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/02\/17\/ggf-fund-provides-first-of-its-kind-tier-ii-capital-to-banque-du-cairo\/","title":{"rendered":"GGF fund provides first of its kind tier II capital to Banque du Cairo"},"content":{"rendered":"

Banque du Cairo has secured a $30 million loan from the Green for Growth Fund (GGF) to strengthen the bank\u2019s capital base.<\/p>\n

\"Banque
Tarek Fayed, chairman and chief executive of Banque du Caire<\/figcaption><\/figure>\n

The loan also aims to support the Egyptian bank\u2019s lending activities, particularly green finance, and funding of renewable energy, energy efficiency and resource efficiency projects.<\/p>\n

The bank aims to expand green financing for vital sectors, \u201cto reduce environmental impact, combat climate change, and improve natural resource efficiency, aiming at supporting the green economy transition.\u201d said chairman Tarek Fayed.<\/p>\n

\"\"
Green for Growth Fund (GGF) Chairman Olaf Zymelka (GGF photo)<\/figcaption><\/figure>\n

\u201cThe new investment will be valuable in strengthening our capital base to support our growth plans for expanding lending opportunities, achieving sustainable development and to align with Egypt\u2019s 2030 Business Vision.\u201d<\/p>\n

This is GGF\u2019s first Tier II capital investment in Egypt, provided to \u201cits long-standing partner Banque du Caire.\u201d<\/p>\n

\u201cThe new transaction marks the fund\u2019s first subordinated loan to a bank operating in Egypt after GGF received its licence from the Central Bank of Egypt.\u201d GGF said in a statement.<\/p>\n

\u201cThe fund aims to enhance the bank\u2019s capital base and the expansion of its lending plans to various economic sectors in Egypt. The collaboration between GGF and BDC will contribute to promoting sustainable economic growth in Egypt and alleviating the challenges of climate change.\u201d<\/p>\n

GGF\u2019s chairman Olaf Zymelka said: \u201cBanque du Caire has been a valuable partner to GGF since 2017. That is why we are particularly proud of this new milestone that will bolster our efforts to increase the provision of well-structured and purpose-driven EE, REff and RE financing in the country.\u201d<\/p>\n

\u201cThrough collaborations with valuable partners like Banque du Caire, we can have a considerable impact on the environment in Egypt.\u201d Zymelka added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banque du Cairo has secured a $30 million loan from the Green for Growth Fund (GGF) to strengthen the bank\u2019s capital base.<\/p>\n","protected":false},"author":4,"featured_media":320964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[131],"class_list":["post-324644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-banque-du-caire"],"yoast_head":"\nGGF fund provides first of its kind tier II capital to Banque du Cairo - egy-africa<\/title>\n<meta name=\"description\" content=\"Banque du Cairo has secured a $30 million loan from the Green for Growth Fund (GGF) to strengthen the bank\u2019s capital base.\" \/>\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\/2022\/02\/17\/ggf-fund-provides-first-of-its-kind-tier-ii-capital-to-banque-du-cairo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GGF fund provides first of its kind tier II capital to Banque du Cairo - 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