Under the GCF GEFF Regional Egypt II framework, a senior unsecured loan of up to $20 million is provided to Credit Agricole Egypt S.A.E. (CAE), with an anticipated co-financing of up to $3 million from the Green Climate Fund. The initiative aims to assist Egyptian households and private Micro, Small and Medium-sized Enterprises (MSMEs) in climate change adaptation and mitigation projects, focusing on gender-responsive approaches given Egypt's high energy intensity. Moreover, the project seeks to promote the adoption of high-performance technologies supporting a green economy in Egypt.
CAE will utilize the loan to facilitate investments in climate-resilient technologies and services for individual households and MSMEs. The endeavor aligns with a Transition Impact ETI score of seventy-five, emphasizing the promotion of efficient climate change mitigation and adaptation technologies to foster a green economy in the region.