The initiative aims to promote green transformation in Egypt and is aligned with development efforts in Egypt.
By: Business Today staff
Sun, Oct. 13, 2024
Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, signed with European Union Ambassador, Christian Berger, the European Green Facility initiative worth €7 million, during Cairo Water Week.
The initiative aims to promote green transformation in Egypt and is aligned with development efforts in Egypt.
The initiative includes a comprehensive technical support package that will enhance Egypt’s ability to develop sector strategies, improve governance in the water sectors, and strengthen partnerships between the public and private sectors.
In March, Egypt and the European Union announced the upgrade of their relations to a strategic partnership during the visit of the President of the European Commission to Egypt. During the visit, a political declaration to elevate bilateral relations was signed with President Abdel Fattah El-Sisi, along with a funding package worth €7.4 billion to support development efforts and joint investments, including the promotion of green investments.
Among the key areas of cooperation in the green transition are technical support for Egypt’s National Green Hydrogen Strategy and the enhancement of the energy pillar within the NWFE program, aimed at expanding renewable energy projects.