Hassan Abdalla, Governor of the Central Bank of Egypt, stated that climate change has become a core financial issue, highlighting the bank's role in directing the banking sector toward sustainability. The Central Bank, in partnership with the International Finance Corporation, hosted a sustainable finance conference on February 15, 2026. The event focused on building climate resilience and accelerating the shift to a low-carbon economy.
Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), affirmed that climate change has shifted from an environmental matter to a fundamental financial challenge, emphasizing the bank's leadership in guiding the sector toward sustainability. Abdalla stated: “Climate change is no longer an environmental issue; it has evolved into a financial one.” The CBE issued Sustainable Finance Guiding Principles in 2021, Binding Regulations in 2022, and a Carbon Border Adjustment Mechanism (CBAM) directive in 2025.
The CBE, partnering with the International Finance Corporation (IFC), organized a sustainable finance conference on Sunday, February 15, 2026, themed “Innovating for Resilience: Financing for a Sustainable Future.” Keynote speakers included Abdalla, Ethiopis Tafara, IFC's Regional Vice President for Africa, Mohamed Farid, Minister of Investment and Foreign Trade, Olayemi Cardoso, Governor of the Central Bank of Nigeria, and Jürgen Schulz, Germany's Ambassador to Egypt. The opening session featured senior officials, such as the Minister of Planning and Economic Development and the Deputy Minister of Foreign Affairs for International Cooperation.
Tafara remarked: “For fifty years, IFC has worked with Egypt to turn economic challenges into opportunities by supporting a dynamic and competitive private sector to deliver lasting development impact.” The conference gathered policymakers, representatives from local and international financial institutions, and private-sector leaders. Speakers reaffirmed Egypt's commitment, with international partners, to advance the sustainable finance agenda, bolster climate resilience, and speed up the transition to a low-carbon economy.
Panel discussions addressed mobilizing private capital for climate action, creating innovative financing tools for green projects, reinforcing regulatory frameworks, and developing resilient financial systems. Participants pointed to emerging economic benefits from the climate transition, including job creation, new market development, and growth in areas like agricultural technology (Agri-tech). The talks stressed the role of innovation, effective policy design, and cross-sector collaboration in expanding climate finance.
Attendees urged strengthening climate-aligned financial systems in Egypt and across Africa to build resilience and support sustainable growth. They advocated for ongoing cooperation among policymakers, financial institutions, and development partners to improve financial systems' ability to handle climate risks.
On the conference's sidelines, Abdalla and Tafara witnessed the signing of a cooperation protocol between IFC and Banque Misr, part of an IFC Board-approved investment envelope up to $220 million, including a $150 million three-year senior sustainability loan with technical assistance. This funding will direct resources to climate-related assets and ensure portfolio monitoring per IFC criteria, growing Banque Misr's green portfolio. A second protocol between IFC and the Export Development Bank of Egypt (EBank) launched an advisory program to enhance data governance and track green financing impacts. This will help EBank better identify, classify, and report sustainable transactions while increasing involvement in climate-positive projects to aid Egypt's green economy shift.
The event formed part of IFC's 30by30 Programme, active in Egypt, Mexico, South Africa, and the Philippines, aimed at helping countries achieve inclusive and sustainable economic transformation.