Commercial International Bank (CIB), Egypt’s leading private sector bank, announced the launch of the “Sustaining Sectors” programme; a multi-stakeholder programme which is designed to help corporates in different sectors leverage sustainability to realize their potential and advance their growth while driving system transformation toward a circular economy.
The “Sustaining Sectors” programme offered by CIB serves a wide range of business sectors by providing them with the necessary tools, capacity-building training, and sustainable financial products to help them transition to a low-carbon economy. By featuring a diverse group of experts and specialists, the programme provides the best practices and experiences at the local and global levels.
Sherif Samy, Non-Executive Independent Chairman at CIB, emphasized that the programme is in line with the Egyptian Government’s and the Central Bank of Egypt’s directives and the Bank’s desire to strengthen Egyptian enterprises’ sustainability capabilities. As a result, the “Sustaining Sectors” programme was launched. The programme’s specialized workshops represent an interactive experience that brings together experts in this field and the private sector.
Amr El-Ganainy, CEO Institutional Banking, CIB, stated: “Following CIB’s success in introducing the first Green Bond in Egypt and Africa, we are now launching programmes and financing mechanisms to help corporates in various sectors to enhance growth and sustainable opportunities”.
According to Dalia Abdel Kader, Chief Sustainability Officer at CIB, the programme aims to activate global frameworks such as Task Force on Climate-Related Financial Disclosures (TCFD) and the Net-Zero Bank Alliance (NZBA), of which CIB is a is a Founding Signatory and a representative of Africa on its Steering Committee. The bank seeks to contribute to the zero carbon emissions journey and ensure that this journey is collaborative and impactful in Egypt, as well as expandable in Africa.
“IFC is committed to helping green Egypt’s economy,” said IFC Regional Director for North Africa, Cheick-Oumar Sylla. “We will continue to support the financial sector to deliver on their climate-related commitments through financial products, particularly in the green building sector, as we work to build sustainable capital markets.”