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SUEZ CANAL-
The SCZone roadshow is heading to India: Representatives from the Suez Canal Economic Zone (SCZone) will head to the Indian capital of New Delhi in June, according to a statement. The representatives will meet with Indian businesses and investors in sectors including automotive, pharma, and green fuel in efforts to attract more foreign investors to the zone. The roadshow has already passed through Vietnam and Japan and is expected to head to China this month.
AND- The SCZone plans to hand over a new 1 km container berth to the East Port Said Port by May, Al Mal reports, citing sources it says are in the know. The berth comes as part of SCCT’s plans to invest USD 500 mn to expand the capacity of the East Port Said Port.
Read the full story in this morning’s edition of Enterprise Logistics — our new daily roundup of news, analysis, and insight into the biggest stories from MENA logistics players, four days a week.
CLIMATE-
IFC to help CIB manage climate risk: The International Finance Corporation (IFC) will help CIB develop and implement a climate risk management framework to aid the bank in assessing climate risk exposure and “ensuring any climate-related financial risks are disclosed in its portfolio,” the IFC said in a statement (pdf). The project, which is also backed by Germany’s Ministry for Economic Affairs and Climate Action, will see the IFC help CIB screen its existing portfolio for climate risk.
REMEMBER- The IFC covered all of CIB’s USD 100 mn green bond issuance in 2021 — Egypt’s first corporate green bond issuance.
ALSO WORTH NOTING-
QNB Al Ahli will offer installment plans of up to five years to customers of used-car retailer Sylndr. (Statement, pdf)
More tech companies in freezones? The Madbouly government will form a committee to look into proposals to set up services companies — including tech, outsourcing, software services, and R&D firms — in freezones. (Statement)
Contracting company DMC is getting an EGP 350 mn loan from Al Baraka Bank to finance the extension of a Mountain View project in New Cairo. (Statement, pdf)
