NBE Signs Cooperation Protocol with UNIDO to Support Sustainable Projects in Egypt's Banking Sector

National Bank of Egypt has announced the signing of a cooperation protocol with the United Nations Industrial Development Organization (UNIDO) aimed at supporting small and medium-sized projects in sectors related to sustainable agriculture, food production, waste management, energy efficiency, and sustainable energy.

Following the signing, Hisham Okasha, Chairman of the Board of NBE, emphasized that the protocol builds upon the fruitful and constructive collaboration between the bank and UNIDO. The partnership aims to enhance climate and green financing while promoting green business services, particularly in underserved areas, contributing to sustainable and inclusive industrial development in Egypt.

Yehia Abou El-Fotouh, NBE's Vice Chairman, affirmed the bank's keen interest in startups and SMEs, considering them fundamental pillars in achieving economic and social development for Egyptian citizens, especially in Upper Egypt, as part of the sustainable development efforts.

Abu Al-Fotouh explained that the agreement aligns with the state's efforts to create an attractive environment for local and international investment in Upper Egypt, enhancing competitiveness, achieving higher economic flexibility in the region, raising industrial growth rates, and creating suitable job opportunities.

Fatou Haidara, Deputy Director General and Director of Partnerships and External Relations at UNIDO, expressed her pride in partnering with NBE, the largest operating bank in Egypt. Haidara highlighted the aim of promoting this sector to improve Egyptian products and contribute to the government's efforts in boosting growth, productivity, job creation, and environmental preservation, while building a thriving private sector.

Tarek Hassan, Head of Small and Medium-Sized Projects Group at NBE, stressed that activating this agreement strengthens the partnerships between the bank and international development entities. Hassan stated that it extends the bank's support to small and medium-sized projects by providing free technical support and a package of training programs to enhance efficiency and increase knowledge related to sustainable finance for clients involved in such projects.

Hassan further explained that this enables easier access to necessary financing in the governorates of Qena and Luxor in Upper Egypt, operating in the fields of sustainable agriculture, food production, waste management, and sustainable energy.