Suez Canal Bank Signs $50 Million Financing Agreement with IFC to Support Green Transition

As part of its ongoing commitment to sustainable development and its strategic shift toward a green economy, Suez Canal Bank has signed a new financing agreement with the International Finance Corporation (IFC).

The loan amounts is $50 million, which will be allocated to projects aimed at enhancing the efficiency of renewable energy use. This initiative is expected to improve the bank’s operational performance and strengthen its competitiveness in both local and regional markets. An additional $10 million will support related trade operations.

The signing ceremony was attended by Mr. Akef El Maghraby – CEO and Managing Director of Suez Canal Bank, Mr. Shehab Zidan – Deputy Managing Director, and Mr. Mahmoud Shehab El Din – Head of Financial Institutions, along with a delegation from the IFC.

This agreement marks a milestone in the bank’s efforts to adopt environmentally friendly practices and support projects that balance economic growth with environmental and social responsibility, reinforcing its role in advancing Egypt’s vision for a green transition.

Commenting on the occasion, Mr. Akef El Maghraby stated that the agreement represents a significant step in the bank’s journey toward green transformation. He emphasized that adherence to modern environmental standards is no longer optional, but a pressing necessity for all institutions operating in the Egyptian and regional markets.

He also extended his sincere thanks and appreciation to the IFC representatives for their trust in the bank, its ambitious strategies, and its forward-looking vision in the field of sustainable finance.