{"id":82644,"date":"2024-02-27T00:00:00","date_gmt":"2024-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/27\/egypt-approves-more-grants-to-support-the-green-industrial-transition\/"},"modified":"2024-02-27T00:00:00","modified_gmt":"2024-02-27T00:00:00","slug":"egypt-approves-more-grants-to-support-the-green-industrial-transition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/27\/egypt-approves-more-grants-to-support-the-green-industrial-transition\/","title":{"rendered":"Egypt approves more grants to support the green industrial transition"},"content":{"rendered":"

<\/strong>Egypt <\/strong>approves another grant from Germany + EIB:<\/strong> The Egyptian Parliament approved four grants worth EUR 80.5 mn from the German Development Bank and the European Investment Bank (EIB) aimed at supporting the growth of the country\u2019s green sector, according to a statement<\/a>. <\/p>\n

The bulk of the funds will be provided by the German Development Bank: <\/strong>The German Development Bank will extend a total of EUR 80 mn to Egypt, of which EUR 28 mn will be dedicated to enhancing risk management mechanisms and credit-guarantee systems, EUR 32 mn to establish 25 education centers focusing on applied tech and renewable energy, and EUR 20 mn allocated to the Ministry of Environment\u2019s National Solid Waste Management Program<\/a>. The latter fund aims to restructure Egypt\u2019s waste sector and implement an integrated solid waste management system in four targeted governorates: Kafr El-Sheikh, Gharbia, Qena, and Assiut.<\/p>\n

And the rest will go to Egypt\u2019s green industry initiative:<\/strong> The remaining EUR 500k will be provided by the EIB to support the selection of investment plans for Egypt\u2019s Sustainable Green Industry Project<\/a>. The funds will provide public and private companies with soft loans and grants to implement green investments specifically aimed at eliminating and reducing industrial pollution through the use of renewable energy.<\/p>\n

ICYMI- Egypt just gave the green light to a EUR 500 mn grant: <\/strong>Egypt\u2019s House of Representatives approved a EUR 500 mn<\/a> grant by the EIB on Sunday to support the Sustainable Green Industry project. The grant will provide access for both public and private climate-focused businesses as well as aid in the ministry\u2019s digital transformation efforts, channeling funds toward providing technical assistance for renewables and green hydrogen projects.<\/p>\n

EIB has a solid portfolio in Egypt: <\/strong>The lender inaugurated a new regional hub<\/a> in Cairo to further its investment \u2014 including green investments \u2014 in the MENA region last December. The bank is also looking to fund Scatec\u2019s green hydrogen projects in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"

The grants are worth a total of EUR 80.5 mn<\/p>\n","protected":false},"author":1,"featured_media":82645,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[243],"tags":[74,40,179,11,172,164,136],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-decarbonization","tag-egypt","tag-eib","tag-enterpriseclimate","tag-germany","tag-green-finance","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"16cd971d-9185-491c-ac10-1d727a85cf7c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2619.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt approves more grants to support the green industrial transition","related_issue":[82637],"teaser":"The grants are worth a total of EUR 80.5 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.0b1856a3-1403-4488-a9b4-eabff8d2f538.mp3"},"yoast_head":"\nEgypt approves more grants to support the green industrial transition - 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