Green Climate Fund approves some USD 2.7 bn in funds for three programs in Egypt and other countries: The Green Climate Fund has approved funding proposals for three multi-country sustainable development programs, unlocking USD 2.7 bn for programs across 14 countries — with Egypt set to be included in all three, according to an Environment Ministry statement. The funding includes:

#1- USD 1.3 bn for greening financial systems in 14 countries across Asia and Africa. This funding will help participating countries unlock access to green financial products and technical support grants.

#2- USD 1.3 bn for expanding water resilient infrastructure across 14 countries, which will disburse funds for high-tech and energy efficient improvements to water infrastructure.

#3- USD 130 mn for an investment fund for resilient agriculture in 10 African countries, which will fund small farmers’ adoption of “climate-smart solutions” and ensure they have access to ins., infrastructure investment financing, and more sustainable inputs.

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SOCIAL HOUSING FUND WANTS MORE FROM THE WORLD BANK-

Social Housing Fund mulls additional USD 200 mn from World Bank: The Housing Ministry’s Social Housing and Mortgage Finance Fund is considering increasing its World Bank loan by USD 200 mn by December 2025 — bringing the total value of its loan to USD 1 bn, CEO May Abdel Hamid said in statements picked up by AlMal. The fund seeks to add some 10k units by the end of next year, Abdel Hamid said, adding that it is looking to increase private sector involvement in upcoming projects.

Remember: The fund last received a boost for its low-income housing program in March 2020, with the World Bank increasing the fund’s loan by USD 500 mn. The Social Housing Fund was also reportedly on the lookout for an EGP 50 bn syndicated loan from four local banks back in March.

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