QNB Participates in Landmark Financing to Develop the Middle East’s Largest Single Sustainable Aviation Fuel Facility Reinforces commitment to financing the energy transition
Egypt’s QNB S.A.E., a subsidiary of QNB Group, a leading financial institution in the Middle East and Africa, announces its participation as a lender in the landmark financing of Sustainable Aviation Fuel (SAF) production facility in Egypt, supporting one of the region’s most significant sustainable infrastructure projects.
The agreement was signed on behalf of QNB Egypt by Mr. Mohamed Bedeir, CEO of QNB Egypt, during the signing ceremony held on the occasion.
Commenting on this announcement, Mr. Abdulla Mubarak Al-Khalifa, QNB Group Chief Executive Officer, said: “Supporting the development of Green Sky Capital’s SAF facility reflects QNB’s commitment to backing projects that deliver both economic value and long-term sustainability outcomes across the region. Financing innovative, technology-led solutions is a core part of our Group strategy. SAF is central to the decarbonisation of global aviation, and this project positions the region at the forefront of a strategically important growth sector.”
This project financing is a milestone in the development of large-scale SAF production capacity in the Midde East and Africa and reinforces the region’s role in advancing global energy transition priorities. Strategically positioned along the Suez Canal, the project will strengthen regional energy security and enhance the region’s role in global sustainable fuel value chains.
The project is expected to produce up to 200,000 tonnes of biofuel per annum, contributing to an annual reduction of up to 500,000 tonnes of carbon dioxide equivalent. Commercial operations are targeted by the end of 2027. Based on International Air Transport Association (IATA) numbers, Green Sky Capital’s new plant will add over 10% to global SAF production alone.
The transaction reflects QNB’s continued focus on financing infrastructure and industrial projects that support long-term economic resilience and sustainable growth. It builds on the Group’s track record in supporting sustainable financing projects.
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