The Housing and Development Bank (HDB) has been honored with the prestigious Gold Award for Green Finance at the Africa Grows Green Awards during the 29th session of the Climate Conference (COP29), held in Azerbaijan last November. The event, themed "Investing in a Sustainable Planet for All," recognized HDB's exceptional contributions to sustainability and green finance, reinforcing the bank's leadership in these critical areas. Egypt's Minister of Environment, Yasmine Fouad, presented the award to Mohamed Gamal, Head of the Large Companies and Syndicated Loans Sector at HDB. The accolade celebrates the bank's efforts in advancing sustainability and aligning its initiatives with Egypt's Vision 2030, a roadmap for sustainable development. Hassan Ghanem, CEO and Managing Director of HDB, expressed pride in this recognition, viewing it as a testament to the bank's steadfast commitment to green and sustainable financing. He highlighted that sustainability will remain a cornerstone of HDB's new strategy for 2025–2030, emphasizing its pivotal role in enhancing financial stability and achieving the United Nations' Sustainable Development Goals (SDGs). Ghanem underscored HDB's active participation in financing strategic projects that support Egypt's transition to a green economy, focusing on environmental and social sustainability. He revealed that the bank had allocated EGP 5.787 billion to sustainable financing as of the first nine months of 2024, representing 21% of its total financing portfolio across corporate finance, syndicated loans, and SME sectors. The CEO further emphasized HDB's commitment to adopting sustainable practices across its operations and continuing its efforts to facilitate Egypt's transition to a green economy. This dedication reflects the bank's broader mission to contribute meaningfully to national and global sustainability goals while fostering long-term financial and environmental stability. This award not only solidifies HDB's role as a key player in green finance but also sets a benchmark for the banking sector in supporting sustainability initiatives.
