The Pilot EgyptSEFF project is determined to support the Egyptian market reduce pollution contributors while enhancing its business efficiency. It therefore concentrates on sectors that consume the most energy while also contributing the most to the Egyptian economy.
Accordingly, eligible EgyptSEFF loan beneficiaries must:
- Be a private entity: a private company, enterprise, firm, business, sole proprietorship or any other private legal entity formed under the relevant laws of, and operating primarily in, Egypt. The entity may apply as a user or supplier of energy efficient and/or renewable energy equipment. The entity may be operating within any economic sector, including commercial, industrial or service industries
- Comply with applicable national environmental, social and health & safety legislation
- Can be Energy Service Companies (“ESCOs”), if both the ESCO and the energy end-user satisfy the eligibility definition
Regardless of the loan type applied for, a project must meet the generic eligibility parameters:
- The project must be financially profitable/viable and be assessed positively by NBE in accordance with its usual credit appraisal procedures;
- Investments in new production facilities are not included in the scope of EgyptSEFF, but expansions of existing facilities are eligible, if not greater than double the existing capacity;
- The project cannot have benefited, or will not benefit, from other grants, including feed-in tariffs; and
- The project must be undertaken in Egypt.
Projects that are not eligible for the Pilot EgyptSEFF Loans are:
- Purchase of land
- Purchase of any form of vehicles
- Re-financing of existing loans
- The production of arms or military equipment
- Financial institutions or financial service companies
- Insurance businesses
- The production or export of tobacco
- The production or export of hard liquor
- Casinos or other gambling facilities
- Speculative investments in property or currencies or any other speculative investment activity
- Investments in securities of any kind, including investments in the share capital of other companies
- Any activities appearing on the EBRD’s Environmental and Social Exclusion List.