The National Bank of Egypt (NBE) and the International
Finance Corporation (IFC) signed on Tuesday a cooperation agreement on funding
solar-powered water pumps.
NBE Chairman Hisham Okasha said the deal shows that the bank is keen on
supporting Egypt Vision 2030 and its plans to expand in the sustainable
development projects, noting the bank sees the importance of maximizing the use
of renewable energy resources.
Okasha pointed out that the agreement is the first of its kind between NBE and
IFC.
Meanwhile, IFC's Country Manager for Egypt Walid Labadi said the corporation
aims to benefit from the solar energy in the Egyptian agricultural ventures in
many ways.
Source: Egypt Today
