Cairo -Mubasher: Suez Canal Bank has signed a $50 million (EUR 42.60 million) financing package with the European Bank for Reconstruction and Development (EBRD), Green Climate Fund (GCF), and European Union (EU).
The financing deal aims to boost trade finance and expand access to green loans in Egypt, according to a press release.
The package features a $25 million loan under the EBRD’s Green Economy Financing Facility, including $3.75 million from the GCF to support households and MSMEs adopting climate-friendly technologies.
Meanwhile, an uncommitted $25 million will increase Suez Canal Bank’s Trade Facilitation Program limit, offering guarantees and cash advances to scale import and export activity.
The EU will also fund technical cooperation and offer up to $2.90 million in incentive grants for eligible projects, while Suez Canal Bank’s staff will receive training in green finance and trade risk management.
Since 2012, the EBRD has invested over EUR13.50 billion across 206 projects in Egypt.
In the first half (H1) of 2025, Suez Canal Bank generated net profits totaling EGP 3.08 billion, marking a surge from EGP 1.80 billion in H1-24.
