Egypt secures €21m EU grant for low-carbon transition

Egypt on Sunday signed an agreement to allocate a €21 million EU-funded grant aimed at supporting the country’s green transition with the European Investment Bank’s development arm, EIB Global.

The grant will accelerate decarbonisation efforts in both the public and private sectors. Around €20 million will be used to co-finance projects that cut carbon emissions, enhance recycling, and reduce industrial pollution, while €1 million will support the digitalisation of the Egyptian Environmental Affairs Agency to boost monitoring and transparency.

The agreement was signed on the sidelines of the Development Financing to Foster Private Sector-Led Growth & Jobs conference in Cairo.

The grant forms part of the broader Green Sustainable Industry programme in Egypt, to which EIB Global has already committed €135 million in loans. The total financing package is expected to mobilise €271 million in climate-focused investments.

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