Commercial International Bank (CIB), Egypt’s leading private sector bank, hosted over 50 leading corporates in the textile sector as part of the third edition of its flagship program Sustaining Sectors. CIB’s Sustaining Sectors Program is a multipurpose platform seeking to avail tailored support to leaders in their respective sectors, accelerating the country’s transition towards a low carbon economy.
Ahead of COP 27, which will be held in Sharm El Sheikh this November, the Bank is committed to leveraging its vast network to advance Egypt’s climate goals to decarbonize. Recognizing the crucial role of the Textile Sector and its significant contribution to the local economy, CIB dedicated its third Sustaining Sectors workshop to the Textile Sector, providing them with leading sectoral experts, certification opportunities and access to sustainability linked financial services to aid their low carbon transition.
Mr. Amr El-Gainany, Chief Executive Officer Institutional Banking at CIB emphasized that “Sustaining Sectors represent CIB’s commitment to help corporate clients sustain their growth, support industry actors and manage challenges and opportunities to transition towards a low carbon and circular economy.”
CIB’s Chief Sustainability Officer Dr. Dalia Abdel Kader stated that “Following the success of CIB’s issuance of its Green Bond, the Bank remains focused on creating the right ecosystem to empower its corporate clients across Egypt’s diverse sectors undergo the transition. CIB recognizes that the journey towards a low carbon economy is a complex one, thus we need to come up with innovative solutions, and engage with clients. Our support extends beyond funding, to include knowledge transfer and walk through audits that identify tangible opportunities for our clients.”
Thus far, CIB has undertaken workshops to support the Food and Beverage, as well as Green Built sectors. Over the coming weeks, the Bank will continue to expedite its efforts to accelerate the transition for its corporate clients and target other sectors.