{"id":549237,"date":"2022-09-08T04:00:40","date_gmt":"2022-09-08T04:00:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/"},"modified":"2022-09-08T04:00:40","modified_gmt":"2022-09-08T04:00:40","slug":"ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/","title":{"rendered":"EBRD could commit USD 1.3 bn to Egypt clean energy projects"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>There was a whole lot of climate and green energy news coming out of Egypt yesterday<\/strong> as climate negotiators from around the world landed in Cairo for the opening day of the <a href=\"https:\/\/egypticf-africanministers.com\/\">Egypt-International Cooperation Forum<\/a> (Egypt-ICF). Officials from more than 20 African nations, global policymakers, international financial institutions and climate experts are gathering at the Almasa Convention Center in the new administrative capital to discuss climate action, the green transition, food security, and finance ahead of COP27 in November.<\/p>\n<p><strong>We have details below <\/strong>and a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b68245c3-a9ac-4b0c-a45a-7e0199a067dc\">full report in this morning\u2019s issue of Enterprise Climate<\/a> if you want to go deeper.<\/p>\n<p><strong>HIGHLIGHTS FROM DAY 1-<\/strong><\/p>\n<p><strong>Egypt could land funding worth up to USD 1.3 bn from the EBRD:<\/strong> The European Bank for Reconstruction and Development (EBRD) is ready to provide as much as USD 1.3 bn in funding to support clean energy projects in Egypt, President Odile Renaud-Basso <a href=\"https:\/\/twitter.com\/OdileRenaud\/status\/1567495555420397569\">said<\/a> yesterday. Renaud-Basso pledged to invest USD 1 bn in renewable energy projects and provide a further USD 200-300 mn to fund the energy pillar of the government\u2019s Nexus on Water, Food and Energy (<a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">NWFE<\/a>) program.<\/p>\n<p><strong>More in the pipeline?<\/strong> Renaud-Basso also discussed \u201cfurther cooperation\u201d on Egypt\u2019s green projects with President Abdel Fattah El Sisi, according to a <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02qynNcAzVdwbL9e33P3EM7whHF8ZYjESdCxmCMe17PJynpQz71bn2QnWHtDcnsQm5l\">statement<\/a> from the office of president.<\/p>\n<p><strong>US climate envoy John Kerry gave the NWFE program the thumb\u2019s up<\/strong> \u2014 and hinted at more funding. \u201cThis has the potential to attract bns in investments from donor governments, philanthropy, development finance institutions and the private sector \u2014 it\u2019s exactly the kind of innovative thinking we need,\u201d he said at the forum.<\/p>\n<p><strong>El Sisi called on rich nations to do more:<\/strong> President Abdel Fattah El Sisi said that developed countries with higher emissions are more responsible for climate change and should provide more financial support to poorer nations. \u201cOnly 20 countries are responsible for about 80% of the effects of climate change. I think it is fair and objective that these nations that bear the largest responsibility significantly contribute to supporting developing countries,\u201d the president said at the forum. \u201cWe need a comprehensive vision to support African nations in their effort to adjust to climate change.\u201d<\/p>\n<p><strong>New Africa climate finance initiative launched:<\/strong> The <a href=\"https:\/\/www.gfanzero.com\/\">Glasgow Financial Alliance for Net Zero<\/a> (GFANZ) <a href=\"https:\/\/www.gfanzero.com\/press\/gfanz-launches-regional-network-to-support-climate-finance-in-africa\/\">launched<\/a> a new initiative to attract investment into climate projects in Africa. Announced by GFANZ co-chairman and UN climate envoy Mark Carney at the forum yesterday, the Africa Network will work with African financial institutions, policymakers and regulators to improve access to climate finance on the continent.<\/p>\n<p><strong>Some very smart Egyptians on are board:<\/strong> Egypt\u2019s climate czar <strong>Mahmoud Mohieldin<\/strong> will chair the network\u2019s advisory board, while Financial Regulatory Authority chief <strong>Mohamed Farid<\/strong> will be vice chair. Our friend CIB CEO <strong>Hussein Abaza<\/strong> is on the board.<\/p>\n<p><strong>Kerry <\/strong><strong><a href=\"https:\/\/eg.usembassy.gov\/remarks-by-special-presidential-envoy-for-climate-john-kerry-as-prepared-2\/\">described<\/a><\/strong><strong> the fight against climate change as \u201cexistential\u201d<\/strong> and \u201cabout the very future of our civilization,\u201d in <a href=\"https:\/\/eg.usembassy.gov\/remarks-by-special-presidential-envoy-for-climate-john-kerry-as-prepared-2\/\">an address<\/a> to the gathering. He also struck a note of optimism, expressing hope that COP27 \u201ccan provide the energy we need to change the world,\" <a href=\"https:\/\/www.barrons.com\/news\/kerry-meets-african-leaders-in-egypt-for-climate-talks-ahead-of-cop27-01662559507?refsec=topics_afp-news\">AFP<\/a> quoted him as saying.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There was a whole lot of climate and green energy news coming out of Egypt yesterday as climate negotiators from around the world landed in Cairo for the opening day of the Egypt-International Cooperation Forum (Egypt-ICF). Officials from more than 20 African nations, global policymakers, international financial institutions and climate experts are gathering at the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549238,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7545],"tags":[96,7286,147,101,72,7087,334,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate","tag-abdel-fattah-el-sisi","tag-climate","tag-climate-change","tag-development-finance","tag-enterpriseam","tag-finance","tag-infinity","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"6de6e137-c444-4227-8153-71e7742f4808","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/162.jpg","photo_position":"above","related_issue":[549228],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EBRD could commit USD 1.3 bn to Egypt clean energy projects - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD could commit USD 1.3 bn to Egypt clean energy projects\" \/>\n<meta property=\"og:description\" content=\"There was a whole lot of climate and green energy news coming out of Egypt yesterday as climate negotiators from around the world landed in Cairo for the opening day of the Egypt-International Cooperation Forum (Egypt-ICF). Officials from more than 20 African nations, global policymakers, international financial institutions and climate experts are gathering at the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-08T04:00:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/162.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EBRD could commit USD 1.3 bn to Egypt clean energy projects\",\"datePublished\":\"2022-09-08T04:00:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\"},\"wordCount\":516,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/162.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abdel Fattah El Sisi\",\"Climate\",\"climate change\",\"development finance\",\"EnterpriseAM\",\"Finance\",\"Infinity\",\"renewables\"],\"articleSection\":[\"Climate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/ebrd-could-commit-usd-1-3-bn-to-egypt-clean-energy-projects\/\",\"name\":\"EBRD could commit USD 1.3 bn to Egypt clean energy projects - 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Meanwhile, EBRD and British International Investment said they would provide\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568933,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/09\/ebrd-qnb-alahli-agree-usd-82-mn-climate-finance-package\/","url_meta":{"origin":549237,"position":1},"title":"EBRD, QNB Alahli agree USD 82 mn climate finance package","author":"enterpriseam admin","date":"9 February 2020","format":false,"excerpt":"EBRD commits fresh capital to climate finance in Egypt: The European Bank of Reconstruction and Development (EBRD) and QNB Alahli have agreed a USD 82 mn financial package to fund green and SME-led projects in Egypt, the EBRD said in a statement. The package consists of a USD 17 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577162,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/13\/us-europe-pledge-more-than-usd-550-mn-to-fund-egypts-energy-transition\/","url_meta":{"origin":549237,"position":2},"title":"US, Europe pledge more than USD 550 mn to fund Egypt\u2019s energy transition","author":"enterpriseam admin","date":"13 November 2022","format":false,"excerpt":"The US, Germany and other European countries have pledged to provide more than USD 550 mn to help Egypt decarbonize its power infrastructure and install new renewable energy capacity. Under a political declaration (pdf) with Egypt announced during President Joe Biden\u2019s visit to COP27 on Thursday, the US and Germany\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/187.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577122,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/10\/we-just-lined-up-usd-15-bn-in-financing-for-nwfe-projects\/","url_meta":{"origin":549237,"position":3},"title":"We just lined up USD 15 bn in financing for NWFE projects","author":"enterpriseam admin","date":"10 November 2022","format":false,"excerpt":"Egypt is getting USD 15 bn for energy, food + water projects under NWFE: Egypt has signed a number of partnerships with international finance institutions and development partners to implement projects worth USD 15 bn under its Nexus on Water, Food and Energy (NWFE) program, the COP27 Presidency said in\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549300,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/ebrd-to-help-egypt-wind-down-gas-fired-power-plants\/","url_meta":{"origin":549237,"position":4},"title":"EBRD to help Egypt wind down gas-fired power plants","author":"enterpriseam admin","date":"12 September 2022","format":false,"excerpt":"More details on EBRD clean energy funding: The European Bank for Reconstruction and Development (EBRD) will provide USD 300 mn in funding to Egypt to help it decommission 5 GW of gas-fired power plants from 2023, Heike Harmgart, the bank\u2019s managing director for the Southern and Eastern Mediterranean, told Reuters.\u2026","rel":"","context":"In &quot;Climate&quot;","block_context":{"text":"Climate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/climate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576948,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/govt-wants-usd-15-bn-for-nine-food-water-and-energy-projects-under-nwfe\/","url_meta":{"origin":549237,"position":5},"title":"Gov\u2019t wants USD 15 bn for nine food, water and energy projects under NWFE","author":"enterpriseam admin","date":"3 November 2022","format":false,"excerpt":"The International Cooperation Ministry will seek blended finance for nine projects worth USD 15 bn in its Nexus on Water, Food and Energy (NWFE) program, the ministry said in a statement yesterday. The projects include a \u201cmassive energy project,\u201d five projects in the field of agriculture and food security, and\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549237"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549237\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549238"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549237"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549237"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}