HDB honours young winning bankers in competition of banks' role in supporting transformation plan into green economy - Daily News Egypt

Hassan Ghanem, Chairperson and Managing Director of the Housing and Development Bank (HDB), has honoured the young winning bankers in the research competition that was held on the role of banks in supporting the state’s plan to transform into the green economy. The honouring ceremony took place during the participation of the HDB in the activities of the People and Banks Conference in its 16th edition, under the title “The role of the banking sector in supporting the national economy”, in the presence and participation of a large number of ministers and leaders of the banking sector and the finance and business sector. In this context, Hassan Ghanem praised the role of the Egyptian banking sector, led by CBE, and its efforts in promoting the transition towards a green economy and sustainable development, by increasing green investment, which contributes to mitigating the effects of climate change, in addition to establishing an independent department for sustainability and sustainable financing within banks. In addition to obliging it to include executive policies and procedures for sustainable financing within the bank’s credit and investment policies, with the help of an environmental consultant to evaluate major corporate projects to be funded from an environmental perspective. He pointed out that the issuance of such instructions is an effective step to enhance the role of the banking sector in achieving the state’s vision, advancing the transition towards a green economy and facing environmental and social risks.

December 24, 2022 16:49 UTC


Egypt to witness inauguration of Julius Nyerere Hydropower Plant and Dam in Tanzania - Daily News Egypt

A high-level Egyptian delegation, headed by Foreign Minister Sameh Shoukry, left Wednesday for Dar Es Salaam to attend the inauguration ceremony of the Julius Nyerere Dam, which was implemented by an Egyptian alliance of Arab Contractors and Elsewedy Electric on the Rufiji River in Tanzania. Ahmed Abu Zeid, the official spokesperson for the Ministry of Foreign Affairs, said that the Foreign Minister will participate on Thursday in the ceremony to launch the filling of the Julius Nyerere Dam in the presence of a large number of officials, representatives of the implementing coalition, and figures of the Tanzanian society, media, and citizens. The gate of the transfer tunnel will be closed to announce the start of filling water in the dam. Abuzaid added that President of the United Republic of Tanzania Samia Hassan is scheduled to participate in the ceremony, given the great importance of the project to the Tanzanian people for power generation and flood control in the Rufiji River,This is in addition to regulating the sustainability of water flows needed for the cultivation of surrounding areas and for fishing activities. It is worth mentioning that the Julius Nyerere dam project is one of the most important development projects implemented on the African continent at a cost of 3 billion dollars,It embodies the capabilities and potential of Egyptian companies in the implementation of major infrastructure projects in a number of African countries, and is a model for constructive regional cooperation among brotherly African countries to support development efforts and realize the interests of their peoples.

December 24, 2022 03:26 UTC


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