The government is footing a significant part of the bill for the new vehicles, providing participants with current-year models at below-market prices as well as a 7- and 10-year installment plan with a 3% flat annual interest rate
El Molla emphasized Egypt's commitment to developing a diverse energy portfolio, integrating both renewable sources and traditional fuels to enhance energy security
The debt swap will assist the government’s efforts in meeting its goals of generating 42% of Egypt’s electricity from renewable sources by 2030 by financing investments and projects accelerating the transition
Financing institutions for the project include European Bank for Reconstruction and Development (EBRD), OPEC Fund for International Development (the OPEC Fund), and African Development Bank (AfDB)
The Environment and Development Forum 2022 will take place at InterContinental City Stars from September 11 to 13, gathering national, regional and international partners in preparation for the upcoming COP27
