Egypt’s central bank hosts sustainable finance conference with IFC

Egypt’s Central Bank of Egypt (CBE), in partnership with the International Finance Corporation (IFC), hosted a sustainable finance conference on Sunday under the theme “Innovating for Resilience: Financing for a Sustainable Future,” focusing on advancing green finance and strengthening market capacity.

At the opening, Hassan Abdalla, Governor of the Central Bank of Egypt, said climate change is now a financial issue and outlined the CBE’s initiatives, including the 2021 Sustainable Finance Guiding Principles, the 2022 Sustainable Finance Binding Regulations, and the 2025 Carbon Border Adjustment Mechanism directive.

For his part, Ethiopis Tafara, IFC Regional Vice President for Africa, highlighted IFC’s support for Egypt’s private sector and national priorities, including sustainable energy and MSME development.

The conference gathered senior policymakers, financial institutions, and private sector leaders to discuss advancing sustainable finance, building climate resilience, and transitioning to a low-carbon economy.

Panels addressed mobilising private capital, innovative green financing instruments, regulatory frameworks, and resilient financial systems. Economic opportunities from climate transition, such as job creation and growth in sectors like agricultural technology, were also highlighted.

On the sidelines, the CBE and IFC witnessed the signing of cooperation protocols with Banque Misr and the Export Development Bank of Egypt (EBank) to support green investments and develop sustainable finance data governance.

The event forms part of IFC’s 30by30 Programme in Egypt, Mexico, South Africa, and the Philippines, aimed at supporting an inclusive and sustainable economy.

Attribution: Amwal Al Ghad English