The National Bank of Egypt (NBE) has signed a cooperation protocol with Europe Solar for Electromechanical Contracting and Solar Energy to finance projects in solar energy applications, irrigation system modernisation, and agricultural land reclamation. The initiative aims to enhance resource efficiency and advance Egypt's green economy objectives, reflecting NBE's role as the country's largest financial institution and a key supporter of the state's sustainable development plans. The agreement is aligned with NBE's strategic direction to expand financing for small and medium enterprises (SMEs), particularly in renewable energy and smart agriculture—sectors viewed as central to achieving a sustainable balance between water and food security while relying on clean energy sources. It also supports Egypt's long-term strategies, including the Water Strategy 2050, Vision 2030, and the Integrated Energy Strategy 2035. The protocol seeks to ease the burden on farmers, factories, and agricultural projects by offering flexible financing mechanisms that enable the adoption of solar-powered and water-efficient technologies, helping reduce operating costs and boost productivity. The agreement was signed by Emad Farag, Head of the SME Group at NBE, and Mostafa Kamel Abdel Fattah Maghrabi, Chairperson of Europe Solar. Farag said the cooperation underscores NBE's commitment to supporting state plans to expand agricultural production through renewable energy and modern irrigation solutions. He added that the bank will provide comprehensive banking services to Europe Solar and its clients, including account management, salary disbursement, credit card issuance, and other financing facilities, to create real growth opportunities for SMEs. For his part, Maghrabi welcomed the partnership, noting that it will expand access to financing for farmers and investors while promoting sustainable solutions that harness natural resources, deliver strong economic and social returns, and advance agricultural and environmental development.
