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A Cooperation agreement was signed in February 2005 between EEAA, FEI and National
Bank of Egypt (NBE) for the purpose of operating the ECO revolving fund for investing
in new equipment.
Danida has provided funds (69 million DKK) to be allocated within the industrial
sector to support initiatives abating pollution encourage safe working conditions
and ensure environmental legislative compliance. The revolving fund will provide
enterprises with the opportunity to make economic benefits and ensure proper compliance
with environmental laws. Small and medium size enterprises being members of the
FEI are eligible to apply.
Loans can reach up to EGP 3 million pounds per enterprise with 2.5% interest rate
per year.
Loans are repaid over 5 years and funds are reused for financing new Cleaner Production
initiatives in other enterprises.
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