Banque Misr joins forces with GGF, SANAD to support MSMES and promote Green Finance
BANQUE MISR JOINS FORCES WITH THE GREEN FOR GROWTH FUND (GGF) AND THE SANAD FUND TO SUPPORT MSMES AND PROMOTE GREEN FINANCE. The Bank has received USD 40 million from the Green for Growth Fund and USD 35 million from SANAD to support sustainable economic growth across the country. Banque Misr, Egypt has received an […]
Wintershall Dea writes off financing of Nord Stream 2
No additional projects in Russia will be advanced or implemented. Payment transactions already stopped. Critical infrastructure will continue to be operated. Joint statement from Works Council and Executive Board. Wintershall Dea AG’s Management Board has decided not to advance or implement any additional gas and oil production projects in Russia and to write off its […]
EBRD approves its new Egypt country strategy for 2022 to 2027
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved its country strategy for Egypt, which focuses on three key priorities identified in cooperation with the Egyptian government and aligned with its ambitious, recently launched reform programme. In the period from 2022 to 2027, the Bank will focus on three strategic priorities: promoting a more […]
GASCO gets $200 mn loan from 8 local banks for Western Desert Gas Complex expansion
GASCO gets USD 200 mn syndicated loan for facility expansion: A group of eight local banks led by the National Bank of Egypt have arranged a USD 200 mn (c. EGP 3.1 bn) syndicated loan for state-owned natural gas company GASCO, which plans to use the proceeds to finance expansions at its Western Desert Gas […]
TAQA Arabia, National Bank of Egypt sign EGP 916mn financing contracts
Abou Elfotouh: “NBE strives hard to support projects that aim to maintain the State’s economic stability, by securing strategic commodities, including petroleum products.” Kafafi: “Throughout our expansion plan, TAQA Arabia seeks to reach 200 CNG stations by 2023.“ Mofeed: “TAQA Arabia values the fruitful cooperation with NBE; Egypt’s largest financial institution in digitizing our services […]
Wintershall Dea’s Q1 2021 Results: Record production, strong financial performance
Wintershall Dea, Europe’s leading independent gas and oil company, today reported its first quarter 2021 results. Mario Mehren, Wintershall Dea Chairman & CEO, commented: “We entered 2021 with a great deal of operating momentum, allowing us to deliver record production of 659 mboe/d in the first quarter. This strong operational performance combined with a more […]
Egypt’s Kom Ombo solar plant receives $114 million financing package
Egypt’s largest private solar plant, Kom Ombo, receives US$ 114 million financing package. EBRD, OPEC Fund, AFDB, GCF and the Arab Bank to finance the 200 MW solar plant in Egypt Kom Ombo solar plant to be developed, constructed and operated by ACWA Power Financing package to increase renewable energy in Egypt The European Bank […]
Egypt’s natural gas transition is in line for a boost by the government
Subsidized loans and more may be in the cards for those looking to convert petrol-powered cars to run on natural gas after President Abdel Fattah El Sisi called on the Central Bank of Egypt (CBE) and the Madbouly government to provide car owners with “appropriate” financial incentives. The president made the remarks at a meeting […]
EBRD, TAQA Arabia promote private-to-private renewable energy in Egypt
EBRD loan to TAQA PV for Solar Energy, renewable energy arm of TAQA Arabia First tranche of loan to finance construction of 6 MWp solar photovoltaic power plant to supply dairy producer Dina Farms One of Egypt’s first private-to-private renewable energy projects The European Bank for Reconstruction and Development (EBRD) is promoting the expansion of […]
Wintershall Dea Q2 2020 Results: unaffected production, stable operations despite pandemic
Q2 2020 Results: Despite the pandemic – unaffected production and stable operations Wintershall Dea, Europe’s leading independent gas and oil company, today reported its second quarter 2020 results. Mario Mehren, Wintershall Dea Chairman & CEO, says: “The quarter was without doubt one of the most challenging that the industry has seen in a long time. […]
