Egypt has recently signed two agreements worth 621 million euros with the European Investment Bank to promote sustainable green industries and boost the transition to a green economy. The first agreement, valued at 271 million euros, focuses on sustainable green industries and involves collaboration between the Ministries of International Cooperation and Environment, the European Investment Bank, and the European Union. The second agreement, worth 350 million euros, is aimed at financing investments in corporate shares at the regional level through the SBA Capital Fund.
During the Egyptian-European Investment Conference, Dr. Rania Al-Mashat, Minister of International Cooperation, along with Dr. Yasmine Fouad, Minister of Environment, signed the agreements with representatives from the European Investment Bank and the European Commission. The funding provided by these agreements will support various initiatives such as transitioning industries to a green economy, reducing industrial pollution, and creating sustainable industrial practices.
The goal of the first agreement is to implement measures related to climate change and environmental sustainability in industrial sites across Egypt. It focuses on reducing pollutants and carbon emissions through the use of renewable energy, green hydrogen, biogas, and sustainable industrial practices. The second agreement aims to enhance investments in high-growth companies in sectors like healthcare
