Egypt's Minister of Local Development and Environment Manal Awad met with Dalia Abdel Kader, head of sustainable finance at Commercial International Bank. The discussions aimed to establish a sustainable finance alliance supporting projects under Vision 2030. Focus areas included water scarcity, agriculture, and energy.
Egypt’s Ministry of Local Development and Environment is intensifying efforts to expand climate finance and support sustainability projects in partnership with the banking sector, as part of Vision 2030 and tackling climate challenges.
Minister Manal Awad met with Dalia Abdel Kader, Head of Sustainable Finance at Commercial International Bank and Chair of Sustainable Finance at the Federation of Egyptian Banks, in the presence of environmental and climate officials. Discussions centered on creating structured cooperation via a proposed “sustainable finance alliance” to integrate climate mitigation and adaptation into financing, targeting investment areas like water scarcity, agriculture, food security, energy, entrepreneurs, the informal sector, and education.
Awad stated the alliance could be presented through the National Council for Climate Change, emphasizing climate data tools for risk and opportunity assessment. The parties also addressed pilot projects leveraging governorates’ competitive advantages, developing value chains for local products to boost self-sufficiency and exports.
The meeting covered a sustainable fashion initiative with GIZ, including a creative hub for recycling and women’s economic empowerment. Abdel Kader noted the banking sector’s pivotal role in turning national strategies into viable business models, especially for water and agriculture projects, alongside capacity building and tailored financial products.
They reviewed the Federation of Egyptian Banks’ “Next Gen” programme, which trains final-year students and recent graduates in environmental and social risk management, aligning with central bank policies and Egypt’s sustainable development strategy.