CAIRO – 24 October 2023: The European Investment Bank (EIB) stand strong to support the green transformation in Egypt by mobilizing financing worth €1.3 billion, as announced at COP27, representative of the EIB, Kristina Kanapinskaite said.
Kanapinskaite elaborated that the financing include $300 million in concessional development financing for the government, and €1 billion for the private sector to enhance its contribution to the transition to renewable energy.
“We are also working to support the green hydrogen strategy and support Egypt’s efforts to connect in the field of energy with Greece, Italy and Jordan, and we want to expand the scope of these solutions,” she added.
This came during a meeting held by the Ministry of International Cooperation to follow up on mobilizing innovative financing tools to implement renewable energy projects with a capacity of 10GW within the Nexus of Water, Food and Energy platform (NWFE program) in preparation for COP28 and with the participation of the Ministry of Electricity, the EBRD, the World Bank, Germany, the USA and relevant entities.
Comments
Leave a Comment