QNB Egypt Backs Middle East’s Largest Sustainable Aviation Fuel (SAF) Facility in Landmark Financing Deal
QNB S.A.E., a subsidiary of the QNB Group, has announced its role as a key lender in the strategic financing of a massive Sustainable Aviation Fuel (SAF) production plant in Egypt. The facility, developed by Green Sky Capital, is set to become the largest of its kind in the Middle East and Africa. The agreement was finalized by Mohamed Bedeir, CEO of QNB Egypt, signaling the bank's aggressive push into financing the regional energy transition.
Abdulla Mubarak Al-Khalifa, QNB Group CEO, emphasized that the project is central to the group's strategy of backing technology-led solutions for global decarbonization. "SAF is the cornerstone of the aviation industry’s net-zero ambitions," Al-Khalifa stated. Located strategically along the Suez Canal, the facility is expected to produce 200,000 tonnes of biofuel annually, effectively reducing carbon emissions by 500,000 tonnes. This project alone is projected to account for over 10% of global SAF production, positioning Egypt and the wider region as a critical hub in the global sustainable fuel value chain.