Gov't eyes 50% increase in green investments during FY2024/2025: Planning min.

CAIRO - 11 June 2023: As part of its Vision for 2030, the Egyptian State believes in the vital role of green investments for promoting inclusive growth, creating more jobs, and ensuring environmental sustainability, Minister of Planning and Economic Development Hala El-Said said.

 

Under the Fiscal Year 2024/2025 investment plan, the State targets a 50 percent increase in the share of green investments, added the minister in a speech delivered on her behalf by Heba Shaheen, Executive Director of the Egyptian Initiative for Business Climate Reform "Irada," during a conference on empowering businesses for green economic development.

 

The Sovereign Fund of Egypt (TSFE) is working for luring green infrastructure investments, Saeed noted in her remarks for the conference, organized by "Irada" in cooperation with the African Development Bank Group (AfDB).

 

As part of a structural reform program, the government took several important steps to create an environment conducive to green investments by rolling out more incentives for the private sector, she said.

 

She added that the government also gives a high priority to public-private partnerships through the three-year old Fund, established as a reliable mechanism to unlock assets for private investors to become investment partners with the government.