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The Central Bank of Egypt (CBE) has come out with a set of binding sustainable finance regulations to help accelerate the transition towards a green economy. The measure will help respond to environmental and social risks the country is facing
The Central Bank of Egypt (CBE) has come out with a set of binding sustainable finance regulations to help accelerate the transition towards a green economy. The measure will help respond to environmental and social risks the country is facing.
The regulation encompasses the establishment of an independent department for ensuring sustainability and making available sustainable finance that the bank can access. It also makes binding on the banks to integrate policies and procedures for sustainable finance within their credit and investment policies.
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The regulations were prepared in accordance with international best practices. The regulations also seek to direct banks towards financing more sustainable projects and enhance investment opportunities by attracting investors in sustainable projects.
