Arab Finance: The Commercial International Bank (CIB) is planning to get a $50 million loan from the European Bank for Reconstruction and Development (EBRD) within the second half (H2) of 2024, an official in the know told Asharq Business.

The Egyptian bank aims to re-lend the loan for financing green projects in Egypt, the official said.

On November 16^th, 2023, the EBRD approved a $150 million subordinated loan to the CIB to support the latter’s Tier II capital to back its growth outlook, enhance its capital structure, and improve its ability to better withstand external economic shocks.

On April 4^th, the EBRD, Meridiam, and Hassan Allam Utilities (HAU) teamed up to drive green investments in Egypt via raising capital in HAU Energy BV.

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