Bioenergy

30 million USD financing package to boost energy-efficient and renewable energy investments

11/20/20170 comentarii

The EBRD and the European Investment Bank (EIB) are planning to support energy-efficient and renewable energy investment in Egypt through a financing package to ALEXBANK in the amount of up to US$ 30 million under the Green Economy Financing Facility (GEFF) for Egypt. The EBRD is providing a financing facility of up to US$ 15 million to ALEXBANK for on-lending to private companies for energy-efficiency and renewable energy projects. The EIB is expected to join the facility with an additional US$ 15 million in financing at a later stage and to team up with EBRD to further strengthen sustainable energy measures in Egypt.

The finance line is the third extended under GEFF Egypt, a comprehensive programme for sustainable energy investment through financial institutions, supported by a €23.3 million grant provided by the European Union Neighbourhood Investment Facility .

Comprehensive technical assistance will provide support to ALEXBANK in the design of business development tools and the successful implementation of the energy-efficiency and small-scale renewable energy facility.

source EBRD
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