Egypt signs EU €4 million grant for environment conservation, industry support
Egypt’s Ministry of Environment has signed a joint cooperation agreement with the European Union to obtain €4 million ($4.7 million) for environment conservation and and local manufacturing support, an official statement said on Sunday.
This grant is part of the third funding phase for the implementation of the Industrial Pollution Control Programme (EPAP) with a budget amounted €145 million ($148 million), Environment Minister Yasmine Fouad confirmed.
EPAP provides financial incentives to industrial establishments to enable the industry transfers to a green economy and reduce greenhouse gas emissions, the statement read.
Moreover, the programme helps the Egyptian industry to improve performance and reach compliance with environmental laws and regulations, in addition to reducing energy and resource consumption in a way that supports achieving sustainable development.
Fouad highlighted the ministry’s effort in supporting the interested companies and helping them to reconcile their environmental conditions by providing the necessary technical support.
The ministry also provides material support including soft loans to encourage all companies for implementing environmental projects to reduce pollution rates, Fouad continued.
The minister added that the small and medium-sized companies (SMEs) have a preferential advantage, as the ministry grants up to 30 percent of the total cost of the implemented project.
She indicated that the programme is currently preparing and implementing environmental compliance and energy efficiency projects with a financial cost of more than 200 million euros.
EPAP had implemented in partnership with the European Union, the European Investment Bank, the French Development Agency, and the Bank of German construction.