Translated version of the PSD: Arabic
The EBRD is considering establishing the Egypt Sustainable Energy Financing Facility ("EgyptSEFF") Framework in the amount of up to EUR 140 million (including co-financing by the European Investment Bank ("EIB") or the Agence Francaise de Developpement ("AFD")). The funds will be made available to Participating Financial Institutions ("PFIs") in Egypt for on-lending to eligible private sector sub-borrowers for sustainable energy investments. The Framework has been developed under the EBRD Green Economy Transition ("GET") approach to scale up green financing.
The first loan under the EgyptSEFF is envisaged to be to National Bank of Kuwait-Egypt for up to USD 40 million, co-financed with Agence Francaise de Developpement ("AFD").
EgyptSEFF will promote the penetration of energy efficient and renewable energy technologies, appliances and equipment in the private sector in Egypt by stimulating demand and raising awareness of the benefits of investments in such technologies.
The transition impact of EgyptSEFF is expected to derive from expansion of lending into energy efficiency and renewable energy in Egypt. It will have positive demonstration effects particularly with respect to utilising financial intermediaries for energy efficiency (EE) and small renewable energy (RE) investments. EgyptSEFF will demonstrate benefits of rational energy utilisation through improved industrial competitiveness in light of rising energy costs.
EgyptSEFF will also contribute to the development of the internal capacity of the PFIs for financing energy efficiency and renewable energy projects.
Qualifying Financial Institutions in Egypt
EBRD Finance Summary
Credit lines with PFIs will be co-financed by EIB or AFD
Total Project Cost
Environmental and Social Summary
Categorised FIs. PFIs will be required to comply with EBRD's PRs 2 , 4 & 9 and submit Annual Environmental and Social Reports to the Bank. Beneficiaries financed through the Facility will be required to comply with national requirements for environment, health and safety and labour standards and the eligibility criteria for EE and RE projects.
EgyptSEFF was the first full-fledged Sustainable Energy Financing Facility (SEFF) programme implemented in Egypt (following the pilot SEFF programme with National Bank of Egypt) and lead by EBRD in coordination with two other Development Finance Institutions (AFD and EIB). The EUR 140 million programme has been fully allocated to four Participating Financial Institutions. The funding was accompanied by financial incentives provided by the European Union (EU) as well as a tailored technical assistance facility financed jointly by the EU and the EBRD.
The programme is instrumental in supporting faster market penetration of highly efficient energy-related products, leading to energy savings and greenhouse gas emissions reduction, and to link together private sector stakeholders with local financing institutions and suppliers, producers and installers of energy efficiency and renewable energy technology. The programme also demonstrates a coordinated approach by DFIs to support the sustainable energy market in Egypt.
EgyptSEFF will be supported by a comprehensive technical cooperation ("TC") programme to provide implementation support to the PFIs and to their clients.
EgyptSEFF will be supported by grant resources from the European Union Neighborhood Investment Facility in the amount of EUR 20.3M for investment incentives to the sub-borrowers and PFIs. In addition, EUR 3.0M will be used to fund the TC programme under EgyptSEFF.
Under the TC programme two consultants will be procured by the EBRD. A Project Consultant will be providing support to the design and successful implementation of the Facility. Additionally, upon completion, a Verification Consultant (VC) will ensure that sub-projects were successfully implemented.
Company Contact Information
Renata Iksar, Associate Director, FI, EBRD
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