Cairo – Mubasher: Arab African International Bank (AAIB) signed a funding agreement with the European Bank for Reconstruction and Development (EBRD) and the French Development Agency (AFD), the Middle East News Agency (MENA) reported on Monday.

The deal aims to finance green technology in the sector of small- and medium-sized enterprises (SMEs) as part of a funding package worth $110 million.

Under the deal, AAIB will obtain a medium-term funding worth $30 million to be paid over a period of five years.