Egyptian Minister of Tourism,Hisham Zazou said the ministry will be signing a cooperation protocol with the National Bank of Egypt (NBE), the Egyptian Hotel Association (EHA) and the Solar Energy Development Association (SEDA) within the framework of energy initiative.
Zazou pointed out that the protocol aims to provide the necessary funding for the 4-and 5-star hotels in Red Sea and South Sinai governorates in order to transfer these hotels to green ones. He added that trending to green economy is internationally as it will benefit Egyptian tourism, adding that green economy is considered as a marketing tool for Egypt and hotels as well as raising the rates of the sold room.
It is worth mentioning that NBE is aspiring to finance 300 hotels in Red Sea in order to transfer their using of diesel and solar to electric energy through clean and environmentally friendly alternatives. The project’s costs depend on the capacity of each hotel and its amount of use of green energy in smart lighting, solar heaters or both of them. He explained that the funding of a hotel, that contains 500 rooms and needs electric energy in each of smart lighting and solar heaters, worth EGP 5.5 million.