France’s AFD to sign financing deals with Banque Misr, Banque Du Caire at COP27

The French Development Agency (AFD) will sign financing agreements with Banque Misr and Banque Du Caire at COP27, the UN climate change summit taking place in Egypt’s Sharm El Sheikh this November, an AFD official said on Wednesday.

Speaking at a conference in Cairo, AFD director country office Clémence Vidal De La Blache said the French agency has recently signed a€100 million ($96 million) deal with the National Bank of Egypt (NBE) to bolster its financing strategy.

Around 92 percent of the AFD’s projects are dedicated for climate action, La Blache added.