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The United Bank Signs a Cooperation Agreement with GIZ and IPC Consulting to Issue Green Products Supporting the SME Sector

18/09/2025

Giz

The United Bank Signs a Cooperation Agreement with GIZ and IPC Consulting to Issue Green Products Supporting the SME Sector

Cairo: September 18, 2025

In a move reflecting its commitment to the mechanisms of the green economy, innovation, and banking leadership, The United Bank today announced the signing of a joint cooperation agreement with the German Agency for International Cooperation (GIZ) and IPC Consulting. The aim is to stimulate the market to increase investments directed towards green finance, which reinforces the national strategy for integrated growth in line with Egypt's Vision 2030.

The agreement aims to enhance sustainable green finance practices by providing technical support for the issuance of a package of innovative and environmentally friendly financial products tailored to the customer base within the Small and Medium-sized Enterprises (SMEs) sector. This aligns with the direction of the Egyptian state and the Central Bank of Egypt towards a transition to a sustainable green economy, which will help boost the confidence of global investors in the Egyptian market and open wider horizons for future partnerships.

The signing ceremony was attended by high-level official representatives, confirming the commitment of both parties to enhance joint cooperation and support sustainable finance pathways. Participants included Neven Kashmerey, Deputy Managing Director for Business Sectors at The United Bank, along with representatives from the Sustainability and Sustainable Finance department. Also present were Karina Danker, Mohamed Abdel Hamid, and John Mishak representing IPC Consulting, and Noheir Khairy and Nihal Hassan representing the German Agency for International Cooperation (GIZ). A number of team members from The United Bank, GIZ, and IPC were also in attendance.

Under this agreement, The United Bank will receive a comprehensive package of technical support, including the design and implementation of green, environmentally friendly financial products that align with the growing needs of the SME sector. This also includes establishing practical frameworks and implementation plans for the development and monitoring of these products in line with the best international practices in sustainable green finance.

The agreement includes several main axes aimed at establishing a strong foundation for sustainable finance within The United Bank and its 68 branches across the country. The most prominent of these are:

  • Providing Technical Support and Human Capacity Building: This will be achieved by providing the necessary training for The United Bank's team on the principles of sustainable green finance, in line with the best global practices in this field for SMEs.
  • Designing Strategic Frameworks: Establishing strategic frameworks and integrated, systematic plans for the development of banking products that are compatible with green finance mechanisms and their practical application to meet the ambitions of customers throughout Egypt.
  • Market Alignment: Planning to align the market with modern global trends in the environmentally friendly green economy within the Egyptian market by designing products that suit the needs of the SME sector.
  • Launching Specialized Financial Solutions: Introducing new, specialized financial solutions that encourage the SME sector to grow and expand by building environmentally friendly practices and expanding the base of beneficiaries of green finance mechanisms, which contributes to enhancing Egypt's global competitiveness and achieving sustainable growth.

Tarek Fayed, CEO and Managing Director, commented on the signing ceremony, stating that this agreement represents a pioneering step in The United Bank's journey toward leadership in applying the mechanisms of the green economy and sustainable finance. He added that the agreement is not limited to developing and innovating products but also extends to building the technical capabilities of the team and aligning the institution's ambitious strategies with global and regional trends in facing climate change and supporting green economy mechanisms.

He also emphasized that this places a challenge before decision-makers to double investments in the SME sector and the field of environmentally friendly investments, including renewable energy projects, clean transportation, and climate infrastructure.

Tarek Fayed confirmed that Egypt aims to become a regional and global hub for green hydrogen. He noted that there are numerous international agreements and memorandums of understanding to inject investments worth approximately $40 billion over the next ten years in the Suez Canal axis and economic zones, according to Reuters.

He also clarified that continuous investment in training The United Bank's team and adopting innovations in banking and financial products and services is the way to achieve balanced growth that serves customers, supports the national economy, and creates greater employment opportunities.

Neven Kashmerey, Deputy Managing Director, Board Member, and Head of Business Sectors, who also oversees the Sustainable Finance and Sustainability department, said that this fruitful cooperation lays the foundation for a more sustainable and customer-focused banking institution. She added that it reflects the institution's ability to respond to changing market needs and provide flexible financial solutions that contribute to building a better future for future generations.

Neven Kashmerey praised the efforts of all relevant authorities and the solutions directed at overcoming the challenges facing the SME sector, enhancing the application of environmental standards, supporting infrastructure and energy, and facilitating the use of green technology.

End.