National Initiative for Smart Green Projects

In line with the Suez Canal Bank’s policy to promote sustainability and sustainable finance, and in our commitment to supporting customers in transitioning towards a green economy, we are pleased to share with you the latest efforts of the state to achieve the Sustainable Development Goals, Egypt Vision 2030, and the National Climate Change Strategy 2050.

The Ministry of Planning and Economic Development has announced the third round of the National Initiative for Smart Green Projects, which was launched in August 2022. This initiative targets projects that meet environmental sustainability criteria, reduce carbon emissions and pollution, conserve natural resources, enhance energy and resource efficiency, preserve biodiversity, and provide ecosystem services that help adapt to climate change. The initiative includes the following categories:

  • Large-sized projects.

  • Medium-sized projects.

  • Small local projects (especially those related to“Decent Life initiative”).

  • Projects presented by startups.

  • Developmental projects related to women, climate change, and sustainability.

  • Non-profit community initiatives and participations.

Currently, applications for this initiative are being accepted through the electronic platform Projects will be selected based on specific criteria, based on the expected impact on the local community in terms of addressing climate and environmental challenges (or at various levels), the use of technological components in the application, the proposed business model, and the efficiency and readiness of the team/company. Three projects will be selected from each category, totaling 18 projects, to be showcased during the COP29 conference in November 2024. The initiative also offers financial awards for the winners: EGP 750,000 for the first place, EGP 500,000 for the second place, and EGP 250,000 for the third place.