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Under the auspices of the Italian Embassy in Cairo and during the visit of Paola Papanikolaou, Head of International Banking at Intesa Sanpaolo, Alexandria Bank—part of Intesa Sanpaolo’s International Banking Division—signed a memorandum of understanding with Blue EV, a leading Egyptian electric mobility solutions provider affiliated with Orascom Investment Holding. The signing took place in the presence of Italian Ambassador Agostino Palizzi, Orascom’s Naguib Sawiris, Paolo Vivenza, CEO and Managing Director of Alexandria Bank, and senior executives from both sides.

The partnership aims to create jobs and support the green economy by financing electric bikes and promoting sustainable mobility solutions. Alexandria Bank will provide an innovative financing solution for micro-business owners, enabling them to purchase electric bikes directly from Blue EV or through its authorized distributors. The program features flexible repayment terms of up to 36 months, no down payment, competitive interest rates, and approval within 48 hours.

This initiative opens new economic opportunities for delivery riders and small business owners by lowering operational costs, improving income, and enhancing overall quality of life. Environmentally, the program contributes to reducing carbon emissions while offering a safe, affordable, and eco-friendly transportation option for urban communities.

Paolo Vivenza, CEO of Alexandria Bank, stated:
"This partnership demonstrates a shared ambition to strengthen Egypt’s gig economy and last-mile delivery ecosystem through a fully sustainable, green business model. We aim to empower thousands of young individuals to own and operate smart mobility bikes, increasing their monthly income by over 35% through our innovative financing solutions. We are proud to collaborate with Blue EV, which provides cutting-edge mobility products, software, and smart battery technology, supported by a smart app for a unique user experience."

Reza Balbaki, CEO of Blue EV, added:
"Offering 'Battery as a Service' (BaaS) and a new vision for electric mobility across EMEA is more than just an industry venture. To pave the way, Blue EV built an integrated ecosystem from scratch, involving regulators, vehicle manufacturers, logistics providers, delivery companies, financial institutions, and insurance companies. The partnership with Alexandria Bank is the cornerstone, allowing our delivery riders and electric mobility users—who face financing challenges—to benefit from innovative bank programs. This reflects the bank’s forward-looking vision and strong commitment to sustainability and financial inclusion. We are proud and excited for the opportunities this collaboration opens for green transportation."

Alexandria Bank continues to enhance its market presence and integrate Environmental, Social, and Governance (ESG) principles into its business operations.