150 million euros.. Increasing green industry investments in cooperation with «EIB»
The Minister of Environment praised the extended relations with the Bank in supporting environmental work in Egypt, especially during Egypt's hosting of the COP27 climate conference, in which the efforts of development partners and their effective participation were an essential part of its success.
Shrouq
Dr. Yasmine Fouad, Minister of Environment, held a video conference meeting with Gelsomina Vigliotti, Vice President of the European Investment Bank (EIB).
150 million euros
The meeting was held to discuss the latest developments in preparing for the implementation of the sustainable green industry program, with the participation of Dr. Ali Abu Sunna, Head of the Environmental Affairs Agency, representatives of the Bank and a number of leaders of the Ministry of Environment.
During the meeting, the minister praised the increase in investments in support of the green industry and environmental compatibility by 150 million euros within the "Novi" program.
Enhancing Egypt's march towards green transition
The Minister of Environment praised the extended relations with the Bank in supporting environmental work in Egypt, especially during Egypt's hosting of the COP27 climate conference, in which the efforts of development partners and their effective participation were an essential part of its success.
And she looked forward to completing the constructive partnership with more future cooperation to benefit from the technical support and expertise of the Bank to enhance Egypt's efforts to involve the private sector in environmental and climate investment, and to enhance Egypt's march towards green transformation.
For her part, Gelsomina Vigliotti, Vice President of the European Investment Bank (EIB), praised Dr. Yasmine Fouad for:
1- The success of the COP27 climate conference, praising Egypt's efforts in consolidating the path towards the next COP28 climate conference.
2- Cooperation with Egypt through the Novi platform for green projects and the Energy, Food and Water Association.
3- Her happiness at consolidating cooperation with Egypt during the coming period in implementing the GSI Sustainable Green Industry Program.
4- Its aspiration to speed up the process of preparing the project and reach a final agreement in preparation for starting its implementation before the end of the year, especially with the bank’s willingness to provide larger financing packages, especially in the field of technical support.
268 million euros to finance green projects
The Minister of the Environment expressed her aspiration to complete the final steps before the final approval of the program in preparation for signing the financial agreement for it and starting its implementation, given the role of this program in supporting the green transformation of the Egyptian industry.
Investments to support green industry and environmental compatibility will be increased by 150 million euros. The program will also contribute to supporting sustainable development in Egypt by providing soft financing packages for industrial facilities in the public and private sectors, with investments amounting to 268 million euros to finance green projects, such as resource efficiency, recycling and clean energy projects. Especially in energy intensive industries.
