Mashreq Bank Signs MoU with the Egyptian Presidency to Co-sponsor COP27
Mashreq Bank has provided facilities for sustainable financing deals amounting to $١١.٧ billion since October ٢٠٢٠
Mashreq Bank signed a memorandum of understanding (MoU) with Egypt’s COP Presidency to formalize the Bank’s participation at this year’s United Nations Climate Change Conference, COP٢٧, being held from ٦ to ١٨ November ٢٠٢٢ in Sharm El Sheikh.
Mashreq is keen to participate in active dialogues with many bodies and institutions that aspire to explore the prospects of sustainable financing for the first time and to provide them with the necessary guidance and advice. It will participate in the “Finance Day” event on November ٩, proud of the facilities it has provided to help accomplish sustainable financing deals, amounting to $١١.٧ billion, since October ٢٠٢٠ in the Gulf Cooperation Council Countries, India, Turkey, and Africa.
During the “Finance Day” and “Energy Day” events to be held on November ١٥, the Bank will participate in panel discussions and other engagements with customers and partners on the ground.
Ahmed Abdelaal, Group Chief Executive Officer of Mashreq Bank, said: “We see the transition to low carbon and the resilient economy as a real opportunity to double our commitment to sustainable finance and invest in sectors that will drive economic growth and create the jobs of tomorrow.”
In response, Ambassador Achraf Ibrahim - General Coordinator for Organizational and Financial Affairs of the COP٢٧, said that Mashreq Bank affirms its commitment to sustainability by integrating environmental practices, social responsibility, and corporate governance.
