Egypt Secures Financing for Major SAF Project, Expected to Boost Global Supply by Over 10%

According to Zawya, Egypt’s QNB Bank has joined the group of lenders financing a large-scale sustainable aviation fuel (SAF) project led by Green Sky Capital. The facility is expected to produce up to 200,000 tonnes of biofuel annually and reduce carbon emissions by around 500,000 tonnes. It is scheduled to begin operations by the end of 2027.

The International Air Transport Association estimates that the project could increase global SAF supply by more than 10%, marking a significant step forward in scaling up low-carbon aviation fuels.