EBRD, CIB ink $60M financing deal to support women-led businesses in Egypt

Updated 7/1/2024 12:03:00 PM
EBRD, CIB ink $60M financing deal to support women-led businesses in Egypt

Arab Finance: The European Bank for Reconstruction and Development (EBRD) has signed financing agreements worth $60 million with the Commercial International Bank (CIB) to promote green projects and women-led companies in Egypt, Asharq Business reported.

A total of $50 million, including $7.5 million from the Green Climate Fund (GCF), will be directed toward financing investments in climate change resilience technologies.

The remaining $10 million will be used by EBRD to finance small firms run by women and boost women’s contributions to the state’s economy.

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