Commercial International Bank (CIB), Egypt’s leading private-sector bank, hosted the third sustaining sectors workshop. Fifty leading corporates in the textile sector were present. CIB’s Sustaining Sectors Program is a multipurpose platform that supports leaders in their respective sectors, accelerating the country’s transition towards a low-carbon economy.

Ahead of COP 27, held in Sharm El Sheikh this November, the bank is committed to leveraging its vast network to accelerate Egypt’s climate goals towards decarbonization. Recognizing the crucial role of the textile sector and its significant contribution to the local economy, CIB dedicated its third Sustaining Sectors workshop towards the textile sector, providing them with leading sectoral experts, certification opportunities, and access to sustainability linked financial services to aid their low carbon transition.

Commenting on the workshop, Mr. Amr El-Gainany, Institutional Banking CEO at CIB, stated, “Sustaining Sectors represent CIB’s commitment to helping corporate clients sustain their growth, support industry players and manage challenges and opportunities to transition towards a low carbon and circular economy.”

Dr. Dalia Abdel Kader, Chief Sustainability Officer at CIB, said, “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 as they undergo their 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.”

CIB has undertaken workshops to support food and beverage and green building 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.