IFC official hails “great” partnership with CIB

27 / 06 / 2022

By Marwa Nassar - -

Nivanne Mortagy, Senior Investment Officer, Upstream, Financial Institutions Group , Africa, of the International Finance Corporation (IFC) North Africa, commended the “great” partnership with the CIB.

It is worth mentioning that the CIB was the first to issue green bonds in Egypt which the IFC finances.

She made the remarks on Monday during the 4th Forum on Strategies for Transition to Green Economy kicked off in Cairo under the theme of “From Vision to Implementation.”

The main sectors that the IFC is looking at are climate smart agriculture, urban infrastructure as well as renewable energy and transports, she said.

All of our investments by 2023 have be 85 percent aligned with the Paris convention and by 2025 they should by 100 percent. This means that every single investment in Egypt and globally as well has to be Paris aligned.

This gives an opportunity for many more sectors also to be included.