Private Sector and Green Money: Triodos Bank and GLS Bank invest in the Egyptian company SEKEM

GLS Bank and Triodos Bank will buy approximately 20 percent of the shares of the Egyptian SEKEM Group jointly, for an amount of € 5 million. The two banks have worked closely with SEKEM for several years and have supported the company to develop into a prosperous and coherent agricultural business. Over the last ten years the company has enjoyed exponential growth. Helmy Abouleish, Chairman of the SEKEM Group welcomed the tightened relationship: "The two banks have always specialised in "Green Money". The integral concept of their financial products has, and will continue to play a central role for us, because our relationship is based on more than just money”.

Thomas Jorberg, Chairman of the GLS Bank, welcomed the co-operative approach of two of Europe’s leading sustainable banks: "We are proud to intensify our partnership and create a more direct link with the SEKEM Group.” Peter Blom, Chairman of Triodos Bank, added that: "SEKEM proves that a company can be successfully supported by a number of different partners. Together we can expand across borders.”

Further financing plans will be developed during the coming year. In this way GLS Bank and Triodos Bank plan to make additional contributions to SEKEM’s invest-ment plan of € 25 in the next 5 years.

(source: Triodos Bank website)