Egypt’s SCZone to receive EGP 30 bn in financing for green hydrogen projects: Egypt’s Suez Canal Economic Zone (SCZone) is on course to receive a EGP 30 bn loan with a 15-year maturity date from a coalition of local banks to finance the infrastructure for a number of green hydrogen projects, a source at the Finance Ministry told Enterprise. The authority has secured the Finance Ministry’s guarantee on the loan. While most of the loan will be denominated in EGP, part of it will be paid in USD to finance imported components. The news was first picked up by Asharq Business.

Who’s said to be extending the loan? Led by the National Bank of Egypt, the coalition includes Banque Misr, Suez Canal Bank, Commercial International Bank, Banque du Caire, and Arab African International Bank.