{"id":690893,"date":"2026-03-31T00:00:00","date_gmt":"2026-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=goinggreen&p=690893"},"modified":"2026-03-31T03:39:25","modified_gmt":"2026-03-31T03:39:25","slug":"egypt-is-making-faster-headway-on-the-imfs-climate-reform-agenda","status":"publish","type":"goinggreen","link":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/egypt-is-making-faster-headway-on-the-imfs-climate-reform-agenda\/","title":{"rendered":"Egypt is making faster headway on the IMF\u2019s climate reform agenda"},"content":{"rendered":"

Egypt appears to be making faster headway on the IMF\u2019s <\/strong>climate-linked reform agenda than on some of the Fund\u2019s broader program priorities<\/strong>, with the latest country report saying \u201cperformance under the [Resilience and Sustainability Facility] RSF has been strong,\u201d as Cairo moves ahead with the structural measures tied to the RSF, according to the IMF\u2019s latest country report (pdf)<\/a>. The Fund said the authorities \u201ccompleted all reform measures due by June 2025,\u201d pointing to \u201cstrong implementation capacity, sustained commitment, and effective coordination\u201d as Egypt advances the USD 1.3 bn program, which links disbursements to reforms in energy, climate-risk management, and resource governance. <\/p>\n

Egypt has already unlocked the first SDR 200 mn under the RSF after completing the first <\/strong>two reform measures due under the program.<\/strong> Egypt is now looking to push the RSF\u2019s timeline out to 15 December, and re-phase future access to keep it aligned with the revised IMF review schedule. The Fund staff backed the \u201crequest for extension and rephasing under the RSF to align the length and availability dates with EFF review schedule,\u201d according to the report.<\/p>\n

The remaining SDR 800 mn will be released in stages over the rest of 2026<\/strong>, with the next SDR 100 mn linked to the second review and the bulk of the financing \u2014 seven equal tranches totaling SDR 700 mn \u2014 set to follow the third review in November and the completion of further reform measures.<\/p>\n

Why this matters:<\/strong> The RSF points to a different kind of IMF engagement \u2014 one that ties financing to longer-term reforms aimed at climate resilience, energy transition, and the state\u2019s capacity to manage environmental risk. In Egypt\u2019s case, that means the Fund is not just looking for macro stabilization, but for evidence that climate-related reform is being built into the way the government plans, finances, and regulates. That also means the remaining money will depend on whether we can keep the reform drive moving. <\/p>\n

\n

Energy reforms are at the heart of the program<\/p>\n

Energy reforms sit at the core of Egypt\u2019s RSF agenda<\/strong>, with the IMF explicitly listing \u201cenergy and electricity reforms\u201d among the main areas covered by the facility. <\/p>\n

The first major step on that front was a <\/strong>2030 implementation plan<\/a><\/strong> for renewable energy.<\/strong> The IMF said the authorities \u201cadopted and published a plan of renewable energy implementation by 2030, detailing the technology type, capacity, location, timeline, and funding source.\u201d That gives the reform drive a much more concrete shape than broad commitments alone, laying out what will be built, where, and on what timetable.<\/p>\n

Egypt has also paired that renewables roadmap with a plan to make room for the new <\/strong>capacity on the grid.<\/strong> Alongside the renewable energy strategy, the IMF said the authorities \u201csubmitted a budget plan for cabinet approval, outlining the annual investments needed in grid and network enhancement for 2026-2029 to support the renewable energy projects described in the plan.\u201d That points to a parallel focus on electricity infrastructure rather than just generation targets.<\/p>\n

\n

The RSF also has its eyes on the banking sector<\/p>\n

One clear sign of how the RSF is pushing climate policy into the financial system is the<\/strong> CBE\u2019s June reporting directive.<\/strong> The IMF cited the CBE\u2019s directive issued last year<\/a> \u201cmandating all banks to monitor and report their exposures to firms that may face material transition risks due to the Carbon Border Adjustment Mechanism (CBAM)\u201d and that the same directive \u201calso included provisions related to the United Kingdom\u2019s CBAM, set to be implemented in 2027.\u201d<\/p>\n

The next step is to translate that directive into reporting and supervision.<\/strong> The report said that \u201cby the end of first quarter of 2026, the necessary information about the directive that needs to be conveyed to the banks, including the supervisory implications of the directive, as well as the amended reporting template of CBAM directive, will be uploaded on CBE website to provide banks with the required data under the mentioned directive.\u201d In the meantime, the CBE will also be monitoring banks\u2019 questions on the new rules as it considers possible amendments by the end of 2026.<\/p>\n

\n

Water governance is next in line<\/p>\n

The RSF reform agenda also stretches into water management.<\/strong> The report says the government remains committed to establishing the National Water Council<\/a> (NWC), chaired by the prime minister and bringing together the main ministries and agencies involved in water allocation and use. The NWC will \u201cissue a circular by June 2026 clarifying roles and responsibilities for generating, sharing, and publishing water supply and demand data to support allocation decisions.\u201d<\/p>\n

From there, the government is expected to \u201cdevelop and publish the National Water<\/strong> Allocation Framework (NWAF) by August 2026,\u201d<\/strong> setting \u201ctransparent prioritization criteria, processes, and rules for licensing, allocation, and monitoring under normal and drought conditions, aligned with international best practices and national needs.\u201d The Fund said this would help close a long-standing institutional gap by putting water allocation under a unified, formally endorsed framework.<\/p>\n

\n

Climate risk is being built into state investment planning<\/p>\n

Another big part of the RSF agenda is making climate risk a formal part of how the state <\/strong>evaluates investment projects.<\/strong> The IMF said the Planning Ministry \u201chas updated climate-related criteria in the national project selection manual, circulated it to all ministries, and begun applying the new framework to all major FY2025\/26 projects above EGP 500 mn.\u201d<\/p>\n

The report also highlights work underway to build the state\u2019s climate-risk data <\/strong>infrastructure<\/strong>, including a \u201cunified climate-risk data framework,\u201d technical teams, and an upgraded \u201cinvestment planning system to integrate climate risk assessments.\u201d It is also \u201ccataloguing new fixed assets, collecting risk data, coordinating with the Ministry of Environment, and preparing a December 2025 progress report outlining identified risks and mitigation measures.\u201d<\/p>\n

Some of the remaining pieces will depend on outside technical support.<\/strong> The IMF said that for the reform measures tied to the fiscal risk statement and disaster risk financing, \u201cthe authorities will rely on technical assistance from the IMF\u2019s Fiscal Affairs Department,\u201d while \u201cthe World Bank\u2019s Environment Team is expected to support the implementation of the Measurement, Reporting, and Verification (MRV) system<\/a> and the non-compliance framework\u201d for the methane reduction reform measure.<\/p>\n

\n

The program will need closer tracking from here<\/p>\n

T<\/strong>he next phase of the RSF will hinge on whether the government can keep the reform <\/strong>process measurable and verifiable as implementation moves forward.<\/strong> That is likely to put more weight on how the program is tracked across institutions, especially as future disbursements remain tied to delivery rather than headline commitments alone.<\/p>\n

The transparency push is also expected to extend to disclosure and reporting<\/strong>, with the government looking to shorten the reporting lag on the CBE\u2019s net international reserves data to improve the timing and availability of information, according to the report. Together, that points to a more tightly monitored phase of the program as Egypt moves from early reform milestones into a longer implementation cycle.<\/p>\n

Looking ahead: <\/strong>With the RSF structured around phased disbursements and reform milestones, 2026 will be a test of whether the Madbouly government can sustain implementation momentum in a tougher external environment, marked by geopolitical unrest, higher financing costs, and volatile energy markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF says Egypt has delivered strongly on the first phase of its Resilience and Sustainability Facility with reforms in energy, climate-risk oversight, water governance, and public investment planning<\/p>\n","protected":false},"featured_media":690894,"template":"","categories":[7266],"tags":[7286,72,7109,272,151],"class_list":["post-690893","goinggreen","type-goinggreen","status-publish","has-post-thumbnail","hentry","category-going-green","tag-climate","tag-enterpriseam","tag-going-green","tag-imf","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"6a7952bd-c946-4329-ae6d-15420797317a","order":"12","is_powered_by":false,"story_type":"2","photo_url":"https:\/\/ent.news\/2026\/3\/1434.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s climate-linked IMF reform track is moving faster than the rest","related_issue":[690873],"teaser":"The IMF says Egypt has delivered strongly on the first phase of its Resilience and Sustainability Facility with reforms in energy, climate-risk oversight, water governance, and public investment planning"},"yoast_head":"\nEgypt is making faster headway on the IMF\u2019s climate reform agenda - 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