The Chartered Banker Institute, the United Nations Environment Programme Finance Initiative (UNEP FI), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) are proud to have piloted the Principles for Responsible Banking (PRB) Academy in Egypt.
Launch
The PRB Academy was piloted in Cairo, Egypt, 18–21 September 2023. Following on earlier pilots in India and Mexico, the launch of the PRB Academy is a major step in fostering responsible banking practices in the Middle East and North Africa (MENA) region. Supported by the German Federal Ministry of Economic Cooperation and Development (BMZ) and developed by GIZ in collaboration with UNEP FI and The Chartered Banker Institute, the PRB Academy provides a unique opportunity for banking professionals to address sustainability challenges. Our learning partner, the Egyptian Banking Institute (EBI), hosted the PRB Academy pilot in Cairo, ensuring a vibrant turnout.
Egypt’s journey to Sustainable Finance and Responsible Banking
More than 200 Egyptian bankers from over 30 banks in various sectors of the industry participated in the pilot. They included credit and risk teams, middle management, relationship managers, and board members and executives. Egypt is one of the frontrunners in sustainable finance in the MENA region, and this was clear by the active engagement of Egyptian bankers in the pilot and their dedication to enhancing their knowledge and skills in responsible banking. Colleagues from GIZ Egypt also supported the pilot by contributing to the learning content, sourcing trainers, and managing stakeholders.
The PRB Academy pilot in Cairo builds on several important steps already taken in Egypt with sustainable finance and responsible banking. For example, Egypt was one of the first in the MENA region to issue a sovereign green bond framework in 2020. This was followed by the issuance of guiding principles on sustainable finance for banks and ESG disclosure rules for companies in 2021. Egypt’s securities rules were also aligned with international standards and principles in 2022 and binding regulations on sustainable finance were issued for Egyptian banks. The PRB Academy pilot is yet another step in Egypt’s journey towards a low-carbon economy.
Partners
UNEP FI is the main partner and funding recipient. UNEP FI’s Principles for Responsible Banking are among the world’s leading frameworks for sustainable banking. Banks can use the principles to align their strategy, decision-making, lending, and investment with the Sustainable Development Goals (SDGs) and international agreements such as the Paris Climate Agreement. UNEP FI currently has more than 300 signatory banks representing approximately 45% of global banking assets. The UK’s Chartered Banker Institute (CBI) is also contributing its extensive experience in training banks and their staff. The CBI is a global, not-for-profit professional training organisation for bankers, with a mission to promote socially responsible banking in the public interest. The CBI has over 33,000 members in more than 100 countries worldwide.
