CAIRO – 27 January 2025: The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has invested approximately LE 1.3 billion in green financing initiatives between July 2014 and December 2024.
According to Chairman Basil Rahmy, MSMEDA allocated LE 1.2 billion to a groundbreaking initiative aimed at converting 150,000 vehicles to operate on natural gas within three years.
This effort is part of a broader program to transition vehicles to dual-fuel systems (natural gas/petrol), contributing to a cleaner environment and reduced emissions.
Rahmy highlighted MSMEDA’s commitment to fostering environmentally friendly projects. Key initiatives include replacing outdated coal kilns with modern, efficient ones, funding biogas projects to generate clean energy, and supporting the management of agricultural waste such as rice straw and cotton stalks.
The agency is also advancing solar energy projects, protecting riverbanks, promoting waste recycling, paving rural roads, and expanding water and sanitation networks.
In 2025, MSMEDA plans to further its support for green projects, offering customized incentives to enhance their sustainability and foster growth.
These efforts are part of a comprehensive strategy to drive Egypt’s transition to green energy and environmental protection.
Central to this strategy is collaboration with global organizations such as the World Bank, the European Union, and other international financial institutions.
The United Nations Development Program (UNDP) plays a key role in helping MSMEDA develop effective plans that enhance the environmental sustainability of projects, ensuring their long-term success and positive impact.
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