CAIRO: Egypt, Tunisia, and the UAE have been listed among the World Bank’s list of the best countries developing renewable energy in 2018.
A World Bank report cited by CNN Arabic listed the three Arab states, saying they have made remarkable progress in the development of renewable energy over the past seven years.
It said that incentives provided to the private sector in those countries have encouraged it to invest in renewable energy. They helped by developing the legal framework that will facilitate the private sector’s projects in this field.
The report stated that the UAE has become one of the best countries in developing energy efficiency.
It also said Egypt rose from 10 points to 68 points by 2018 on the World Bank’s Regulatory Indicators for Sustainable Energy (RISE). This has made it among the top 36 countries around the world.
The report also praised Jordan’s “notable” progress in developing renewable energy from 2010 to 2017, recording 63 points.
Renewable energy is used in the fields of heating, cooling and transport sectors.
Egypt, UAE and Tunisia among best countries worldwide in developing renewable energy
Egypt, UAE and Tunisia among best countries worldwide in developing renewable energy
- Incentives provided to the private sector in those countries have encouraged it to invest in renewable energy
Saudi banking sector outlook stable on higher non-oil growth: Moody’s
RIYADH: Saudi Arabia’s banking sector outlook remains stable as stronger non-oil economic growth and solid capital buffers support lending and profitability, Moody’s Ratings said, forecasting continued expansion despite liquidity constraints.
In its latest report, credit rating agency Moody’s said the Kingdom’s non-oil gross domestic product is projected to expand by 4.2 percent this year, up from 3.7 percent recorded in 2025.
In January, S&P Global echoed a similar view, saying banks operating in Saudi Arabia are expected to sustain strong lending growth in 2026, driven by financing demand tied to Vision 2030 projects.
Fitch Ratings also underscored the healthy state of Saudi Arabia’s banking system last month, stating that credit growth and high net interest margins are supporting bank profitability in the Kingdom.
Commenting on the latest report, Ashraf Madani, vice president and senior credit officer at Moody’s Ratings, said: “We expect credit demand to remain robust, but tight liquidity conditions will continue to limit the sector’s lending capacity.”
Madani added that operating conditions in Saudi Arabia will continue to support banks’ strong asset quality and profitability.
“The operating environment for banks remains buoyant, underpinned by a forecast increase in non-oil GDP growth, robust solvency and continued progress toward the government’s economic diversification goals,” he added.
Moody’s said authorities in the Kingdom are introducing business-friendly reforms to bolster investment and private sector activity, while implementing key development projects and preparing for major global events.
Saudi Arabia continues to advance reforms including full foreign ownership rights, simplified capital market registration procedures and improved investor protections, which could accelerate credit growth to 8 percent this year.
Problem loans are expected to remain near historical lows at around 1.3 percent of total loans, supported by ongoing credit growth, favorable operating conditions and lower interest rates, which collectively strengthen borrowers’ repayment capacity.
Retail credit risk remains controlled in Saudi Arabia because most borrowers are government employees with stable income streams.
“Concentration of single borrowers and specific sectors remains high although the growing proportion of consumer loans — now nearing 50 percent of overall sector lending — continues to reduce aggregate concentration risk,” added Moody’s.
The report said profitability is expected to remain solid among Saudi banks, supported by sustained loan growth and fee income.
Margins are expected to remain stable despite lower asset yields as banks take advantage of credit demand to widen loan spreads on existing and new lending.
Moody’s expects net income to tangible assets to remain stable at 1.8 percent to 1.9 percent this year.
The report added that Saudi banks benefit from a very high likelihood of government support in the event of any failures.
“We assume a very high likelihood of government support in the event of a bank failure. This is based on the government’s track record of timely intervention,” Moody’s said.
It added that Saudi Arabia remains the only G-20 country that has not adopted a banking resolution framework. However, it is the only Gulf Cooperation Council member to have introduced a law for systemically important financial institutions.
