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June 29, 2022


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مؤسسة التمويل الدولية

International Finance aims to invest one billion dollars in Egypt this year

Sheikh Omar sila, regional director of IFC, revealed that the institution invested one billion dollars in Egypt last year and aims to pump the same this year.

On the sidelines of his participation in the announcement that the Grand Egyptian Museum has received the edge green building certificate, he added that the institution has invested two billion dollars in climate-related projects in Egypt since 2017.

He mentioned that the foundation is working on a joint project with the SME Development Authority to lend to small, medium and micro enterprises within the Decent Life initiative.

He pointed out that the foundation is constantly cooperating with Egyptian banks and that they are pleased with the results of its financing of the first green bond in Egypt.

The International Finance Corporation (IFC) yesterday awarded the Grand Egyptian Museum the edge advanced green building certificate, becoming the first museum in Africa and the Middle East to receive this certificate, and one of the few museums to receive it globally.

The museum, which covers an area of half a million square meters, has taken sustainable measures, including a reflective roof, outdoor awnings to protect against heat, energy-saving lighting, smart water taps to avoid waste, as well as the use of smart meters for energy consumption.

These measures translate into energy savings equivalent to the elimination of more than 400 gasoline-powered cars from the streets of Cairo for one year, and water savings equivalent to 63.4 million liters of Nile river water per year.

The certificate is part of the IFC Green Building Support Project, which was prepared and developed in partnership with the National Center for housing and construction research, to strengthen the green building system in Egypt, and encourage the adoption of construction projects that support the selection of cost-effective designs and save resources.

This partnership focuses on increasing the awareness of the public sector on the economic aspects of the construction of certified green buildings, developing the skills necessary to implement green incentive programs, and supporting the development of green buildings at the local level.

Since the beginning of its work in Egypt, IFC has invested and mobilized about USD 8 billion in investment projects, and has a consulting operations portfolio worth USD 26.8 million.