The Central Bank of Egypt published an overview of its sustainable finance work, describing how it is encouraging Egyptian banks to expand financing and banking services that incorporate environmental and social considerations. The update highlights increased focus on funding renewable energy power plants, waste recycling projects and micro, small and medium-sized enterprises (MSMEs), alongside product innovation for low- to middle-income customers and persons with disabilities. Egyptian banks have developed more than 24 products and financing programmes across environmental and social sectors including energy efficiency, renewable energy, agriculture, healthcare and digital transformation, with around 31 banks offering products positioned to support sustainable growth and financial inclusion. Offerings cited include targeted inclusion accounts for vulnerable groups, financing schemes for farmers and smallholders, tuition-fee funding, tailored products for persons with disabilities and for women, and green financing programmes including green bonds. The banking sector’s reported alignment with the United Nations Environment Programme Finance Initiative Principles for Responsible Banking reached 75% of the sector’s total portfolio. The Sustainable Banking and Finance Network upgraded Egypt’s 2024 rating from Developing to Advancing, marking the fourth upgrade since Egypt joined the network.

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