Egypt increases green investment allocations to 40% of 2022/23 budget – minister

Egypt plans to allocate 40 percent of the current financial year 2022/2023 budget for green investment, up from 30 percent in last year appropriations, said Planning Minister Hala al-Saeed on Sunday.

Speaking at the Egyptian Economic Conference 2022 (EEC 2022), the country is also planning to increase its green investing allocations to 50 percent in the financial year 2024/2025, which will start in July 2024.

The North African country is hosting in November this year the 27th edition of the UN Climate Change Conference 2022 (COP 27) in Sharm El-Sheikh.