EgyptSEFF is developed by EBRD, distributed through NBE’s more than 300 branches, technically supported by MWH Global and RCREEE and financially supported by SEMED MDA and EBRD’s SSF. The following diagram summarizes the relationship between all parties. More information about each stakeholder is further explained below.
1. The European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) was established in 1991 to help build a new, post-Cold War era in Central and Eastern Europe. It expanded its geographical operation to North Africa and the Middle East recently and has since participated in fostering change in the region and beyond.
EBRD is also a significant supporter of sustainable energy development. It launched several SEFF (Sustainable Energy Financing Facilities) in many countries to boost the growth of sustainable energy projects. Since launching the first SEFF in Bulgaria in 2004, the EBRD has committed more than €2 billion in SEFFs to more than 80 financial institutions, reaching more than 40,000 clients in 20 countries. Subsequent to this success, EBRD launched EgyptSEFF to provide a USD 30 million loan through the National Bank of Egypt and contribute to the growth of sustainable energy alternatives in Egypt. Read more
2. The National Bank of Egypt
The National Bank of Egypt (NBE) is the participating Egyptian bank with EBRD’s EgyptSEFF project. This means all loans applied for under EgyptSEFF will be released through National Bank of Egypt in order to lend to customers that want to invest in energy efficiency and/or renewable energy through EgyptSEFF.
NBE is the first commercial bank to be founded in Egypt. It was established on June 25, 1898 with a capital of GBP 1 million. Throughout its long history, NBE's products, services and processes have continually developed to adapt to changing economic and political circumstances in Egypt. During the 1950s, NBE assumed the Central Bank's role. Later, in the 1960s, it acted as a purely commercial bank, in addition to carrying out the functions of the Central Bank in areas where the latter had no branch offices. Furthermore, since the mid-1960s, NBE has been in charge of issuing and managing saving certificates on behalf of the government. Read more
3. The EgyptSEFF Project Consultant
The EgyptSEFF Project Consultant is a consortium of MWH Global and the Regional Center for Renewable Energy and Energy Efficiency (RCREEE). Collectively they manage the EgyptSEFF project and provide the appropriate technical assistance to the clients and NBE. Through their knowledge and expertise clients can discover new ways of utilising energy sources that help them reduce their operational costs and enhance their market competitiveness.
MWH Global is one of the world’s largest international energy and environmental consultancy and engineering firms, with more than 8,000 employees working in over 38 countries worldwide. MWH’s major client groups include multinational industrial companies, governments, international funding and aid agencies (including the EBRD, the World Bank, the EIB, USAID, the Kuwait Fund, the European Union, DFID and the UN), utility companies and municipalities. Read more.
The Regional Center for Renewable Energy and Energy Efficiency (RCREEE) is an independent not-for-profit regional organisation that aims to enable and increase the adoption of renewable energy and energy efficiency practices in the Arab region. RCREEE partners with regional governments and global organisations to initiate and lead clean energy policy dialogues, strategies, technologies and capacity development, in order to increase Arab states’ share of tomorrow’s sustainable energy. Read more.
4. The Verification Consultant
The Verification Consultant's expertise is used after the disbursal of the loan and implementation of the project to ensure that the objectives of the loan are met in terms of maintaining the intended sustainable energy objectives. This is done by checking the implementation details through site visits and documentation auditing. If the result of the verification audit is satisfactory, clients that are eligible for incentive grants will then receive their grant as funded by the Donors.
Grants provided by through the EgyptSEFF project are funded by two donors that are dedicated to the development of sustainable energies in various countries:
Contributors to the Southern and Eastern Mediterranean (SEMED) Multi-Donor Account (MDA) include Australia, Finland, France, Germany, Italy, Netherlands, Norway, Sweden, Taipei China and the United Kingdom. SEMED MDA played an instrumental part in the development of Energy Efficiency and Renewable Energy in many countries.
The Facility is also supported by EBRD’s Shareholder Special Fund (SSF). The Fund’s key mandate is to complement EBRD’s existing donor funding operations through technical cooperation, investment grants, incentive payments and equity participation. It strengthens the EBRD’s ability to support transition and has been structured to cover a range of countries such as the early transition countries (ETC) and Western Balkans and various sectors such as infrastructure, sustainable energy and enterprise development.