Abu Dhabi Commercial Bank Egypt (ADCB) has entered a strategic alliance with the United Nations Industrial Development Organization (UNIDO) through the Inclusive Green Growth in Egypt (IGGE) program. This collaborative effort aims to empower small and medium enterprises (SMEs) in transitioning toward a green economy. This also focuses on pivotal economic sectors such as renewable energy, resource efficiency, sustainable agriculture and food production, and waste management.
The announcement of this collaboration took place at ADCB’s headquarters. The event witnessed the participation of senior managers from both ADCB and UNIDO.
This partnership aligns with ADCB’s sustainability strategy, with UNIDO providing technical support and guidance to the bank’s clients and staff. The objective is to introduce sustainable financial and non-financial products and services that facilitate climate financing, in line with ADCB Egypt’s overarching strategy and objectives.
Ihab ElSewerky, CEO and Managing Director of ADCB Egypt, expressed enthusiasm about this collaboration, emphasizing ADCB’s commitment to supporting customers in their green transformation journey. He highlighted the importance of international partnerships, such as the one with UNIDO, to expand the bank’s sustainable financing portfolio and contribute to the growth of SME clients.
Hisham Abbas stressed on the significance of this partnership in achieving sustainable growth and fostering responsible investment aligned with Egypt’s Vision 2030. The collaboration reinforces ADCB’s commitment to sustainable financing, targeting 15% of the total loan portfolio by 2030.
Patrick Jean Gilabert from UNIDO expressed satisfaction with the collaboration, emphasizing the importance of working closely with the banking sector to provide dedicated green and sustainable finance for SMEs. He highlighted UNIDO’s priority on climate action and the extensive technical cooperation portfolio in Egypt’s environment and energy field.
It may be noted that ADCB recently unveiled the first sustainable corporate account in Egypt, tailored for companies aiming to manage their finances while transitioning to a sustainable economy. This launch aligns with Egypt’s Sustainability Plan 2030 and Abu Dhabi Commercial Group’s strategy, including its commitment to the Net Zero Banking Alliance to achieve climate neutrality by 2050.
