The Ambassador of France to Egypt Eric Chevallier attended the signing of the MoU between the Governor of the CBE Hassan Abdallah and the AFD Director in Egypt Clémence Vidal de la Blache.
The initiative aims to implant sustainable finance within the financial and banking sectors to encourage inclusive economic growth in Egypt.
It also targets accomplishing SDGs by offering technical assistance, capacity-building programmes, and credit facilities to banks taking part in the initiative to finance projects that regard environmental and social factors.
Furthermore, it seeks to advance sustainable financing for micro, small, and medium enterprises (MSMEs).
Moreover, it aims to provide technical support on topics that tackle climate action and sustainable financing, including environmental risk management and reporting and disclosure related to development in sustainable finance, and to enhance SDGs financing by the banking sector.
On another note, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat has recently met with Chevallier and Magali Cesana, head of the Bilateral Affairs and International Business Development Department (SABINE) at the French Ministry of Economy and Finance.
Al-Mashat discussed with them the joint efforts within the Team Europe Initiative (TEI) in the past four years, which has facilitated development funding and grants reaching $2.6 billion, $2.3 billion of which was appointed to the government and $331 million to the private sector.
She also affirmed that the upcoming period will witness more coordination regarding the government's vision of achieving social and economic development and speeding up the execution of SDGs.
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