LE5M loans for environment studies

CAIRO – 30 July 2017: The Federation of Egyptian Industries’ (FEI) environment unit will provide LE 5 million ($279,595)s in loans to industrial facilities to adjust their environmental assessment studies.

Head of the unit Sherif el-Gabaly said in a Sunday statement that the loans will finance technical and consultancy services of small and medium industrial facilities, which are members in the federation.

The studies will focus on using technology to protect environment, rationalizing energy consumption and increasing investing in renewable energy projects.

Gabaly said the loans are to be offered on two installments, through the National Bank of Egypt, to be later repaid over five years.