Egypt-based Arab African International Bank (AAIB), in partnership with the International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), and British International Investment (BII), has launched a $500 million sustainability bond to address climate finance needs in Egypt. The bond will support renewable energy projects, energy efficiency improvements, and initiatives reducing greenhouse gas emissions, aligning with Egypt’s sustainability goals. Proceeds will also enhance access to finance for micro, small, and medium-sized enterprises (MSMEs), enabling their involvement in green initiatives. This bond supports international efforts to mobilize capital for climate action in emerging markets and fostering Egypt’s transition to a greener economy.
AAIB partners on $500M bond to support MSMEs in Egypt
Proceeds from AAIB’s $500M bond issuance will finance green and social development projects across Egypt. (Image Source: BII)
The acquisition is expected to close by the end of fiscal year 2024, pending standard conditions. (Image Source: Alternus Clean Energy)
Inbank’s efforts target rising demand for residential solar adoption supported by EIB’s financial framework. (Image Source: Inbank)
The Houston-based facility will start producing 1 GW of solar modules by mid-2025, expanding to 2.5 GW by year-end. (Image Credit/Source: Andreas160578/Pexels)
Emeren now operates 272 MW of PV assets and 35 MWh of storage, further strengthening its renewable portfolio. (Image Credit/Source: SOLARbytes/Emeren)