Egypt eyes boosting green investment with France’ MEDEF

Egypt’s Minister of Environment Yasmine Fouad met on Thursday with a delegation from the French Employers’ Association (MEDEF International) to discuss expanding green investments in Egypt, as per a Cabinet statement.

The delegation, which includes major French companies, was led by Executive Vice President of Airbus and head of the French business mission Wouter Van Wersch and came as part of President Emmanuel Macron’s official visit to Cairo.

Fouad highlighted Egypt’s commitment to climate adaptation despite contributing less than one per cent to global emissions. She presented the country’s climate investment strategy, which focuses on water and agriculture and aims to attract private sector involvement while encouraging banks to reduce investment risks.

The minister also revealed ongoing work on national strategies for a circular economy and a blue economy, ahead of Egypt hosting the Barcelona Convention for the Protection of the Mediterranean Sea against Pollution meeting later this year.

She emphasised the growing role of ecotourism in Egypt’s economy and announced the creation of a Nature Fund in collaboration with a national bank to support private investment in nature reserves.

Fouad also pointed to Egypt’s success in regulating waste management through its first waste law, promoting circular economy principles, and attracting private investment, including cement companies shifting to alternative fuels.

Additionally, Egypt has developed a study on producing sustainable aviation fuel (SAF) from used cooking oil and is exploring cooperation with French companies on building materials derived from construction and demolition waste.

Wouter Van Wersch expressed strong interest in entering the Egyptian market with projects aligned with Egypt’s green transition goals, particularly in sustainable aviation fuel, green hydrogen, and carbon neutrality.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama