NBE’s Environmental Finances Hit EGP1.2 bln at October-End

The total environmental finance of the National Bank of Egypt (NBE) hit around EGP1.2 billion at the end of last October from the total small and medium enterprises SMEs finance portfolio which reached EGP9.3 billion at the same period.

The most environmental finance which provided by the bank for financing factories is to switch using the factory from diesel fuel to natural gas in order to lower the emissions and fumes which pollute the environment.

An official source in the bank has informed Amwal Al Ghad that NBE is planning to finance 45 K bakeries at value ranging between 40 to 50 K for each bakery.

It is worth mentioning that NBE the Bank financed 55 brick factories worth EGP 120 million in Beheira governorate for transitioning natural gas instead of diesel fuel, as well as financing 130 brick factories in Suff area- Helwan for the same value and purpose.

NBE is targeting to launch phase III for combating the industry pollution by the coming month in the framework of preserving the environment.