Cairo, December 16, 2024- CIB, Egypt’s leading private-sector bank, has been recognized during the EPAP III closing ceremony. Under the auspices of the Egyptian Ministry of Environment, CIB participated in the program’s third phase.
CIB actively supports projects that address climate and environmental challenges, including resource depletion, biodiversity, and air, water, and soil pollution. Furthermore, the bank is committed to promoting a more sustainable future and driving Egypt’s green economy. CIB is a key player in increasing the share of renewable energy, expanding the presence of green buildings, and advancing energy efficiency practices within the industrial sector. These efforts align with the Sustainable Development Goals (SDGs) and further underscore the bank’s unwavering commitment to its sustainable finance strategy.
Since the program’s inception in 2018, CIB played a pivotal role by funding projects in industrial wastewater treatment, emissions reduction, resource efficiency, and cleaner production technologies, with a total investment of €31 million and EGP 209 million. The program targets small and medium enterprises (SMEs) to encourage investments in pollution control projects, driving sustainability.
The theme of the ceremony, "Achievements and Ambitions for a Sustainable Green Industry," highlighted a comprehensive three-phase program. The program’s third phase addressed air and water pollution abatement, carbon dioxide (CO2) emission reduction, and resource efficiency initiatives that have saved 12.4 million cubic meters of water, 17,500 cubic meters of solvents, and 24,000 tons of plastics annually.
H.E. Dr. Yasmine Fouad, Minister of Environment, acknowledged CIB’s Development Finance Department within the Financial Institutions Group for their significant and impactful contributions to the program’s third phase. During the ceremony, the Minister of Environment announced the launch of the Green Sustainable Industry Program (GSI), a continuation of the Egyptian Pollution Abatement Program (EPAP III).
The ceremony took place in the presence of Ms. Heba Abdel Latif, Head of Financial Institutions and Correspondent Banking Group at CIB; Mr. Kamel Sallam, Head of Development Finance Group at CIB; Ms. Alyaa Hafez, Sector Head at Development Finance at CIB; Mr. Sherif Seddik, Relationship and Product Development Manager; and Mr. Yasser El-Dib, Senior Vice President – Global Corporate Relations at CIB.
