National Bank of Egypt Launches EGP 1 Billion Green Building Financing Product with Concessional Terms
Hamdy Abdelrashid
The National Bank of Egypt (NBE) has launched its first specialized financing product dedicated to green buildings from its own resources. Positioned as one of the first institutions to introduce such services in the local banking sector, NBE aims to finance the investment costs of sustainable building projects that hold accredited green construction certifications—including LEED, EDGE, Green Star, and GPRS—as well as projects verified by certified environmental consultants.
Mohamed El-Etreby, CEO of the National Bank of Egypt, stated that the launch embodies NBE's vision to adopt environmentally responsible banking practices. It further reinforces the bank's role in supporting sustainable development in alignment with Egypt’s Vision 2030. El-Etreby noted that the banking sector must play a pivotal role in confronting climate change challenges, emphasizing the importance of funding green building projects that optimize resource efficiency and reduce carbon footprints.
Soha El-Tourky, Deputy CEO of NBE, added that the product is meticulously structured to offer competitive rates and concessional terms, minimizing barriers for both the public and private sectors. She explained that green buildings represent a smart investment, directly lowering long-term operational costs through reduced energy and water consumption, while boosting workplace productivity.
Sherif Riad, CEO of Corporate Banking Credit and Syndicated Loans at NBE, indicated that the new facility will provide real estate developers and investors in the educational, medical, tourism, industrial, and contracting sectors with access to flexible financing. The package offers up to EGP 1 billion per client, covering up to 75% of the total project investment cost with repayment periods extending up to 7 years. Pricing tiers will be structured according to the level of the green building certification obtained. Riad revealed that NBE has already approved financing for three clients under this program, totaling EGP 1.7 billion, with an additional eight investment firms currently under study for loans totaling EGP 5.52 billion.