Commercial International Bank (CIB) - Egypt has announced the signing of a partnership and financing agreement with Paradise Textile Company and several associated project companies. This agreement will fund the establishment of the largest textile factory in the Ameriya Public Free Zone in Alexandria Governorate. This move underscores CIB's commitment to supporting major industrial projects that have both an environmental focus and export potential.
The project aims to build an integrated factory that will utilize the latest environmentally friendly global technologies and machinery. This will help reduce environmental impact and promote sustainability. Notably, this project is the first of its kind in the Middle East to seek LEED green sustainability certification, one of the most prominent global certifications for sustainable buildings and projects.
In this context, Amr El-Ganainy, Deputy CEO and Executive Board Member at Commercial International Bank - Egypt, stated that this partnership embodies the bank's leading role as a strategic partner for major industrial entities. It also reflects CIB's continuous support for high value-added projects that contribute to economic growth.
El-Ganainy added that the bank strives to empower national projects capable of competing globally and achieving a leap in Egyptian exports. He emphasized that the financing demonstrates the bank's strong financial solvency and its ability to support major industrial transformations that adopt international efficiency standards, ensuring the continued competitiveness of environmentally friendly Egyptian products in global markets.
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