The program aims to support the green transition in the industrial sector, reduce emissions, and enhance the competitiveness of Egyptian industry.
Egypt has signed a new concessional financing and grant agreement worth €53.8 million with the French Development Agency (AFD) and the European Investment Bank (EIB), as part of efforts to implement the Green Sustainable Industries (GSI) Program.
The program aims to support the green transition in the industrial sector, reduce emissions, and enhance the competitiveness of Egyptian industry.
In parallel, an agreement for the program’s advisory services was also signed, valued at €8.8 million as a grant from the European Union, with the European Investment Bank responsible for managing it.
Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, explained that the program is designed to support industrial investments focused on reducing pollution and emissions, improving energy and resource efficiency within industrial facilities, and achieving a direct positive impact on environmental quality.
These efforts, she noted, will also strengthen the competitiveness of Egyptian products in international markets.
She added that the agreement forms part of the program’s total financing package of €271 million, which includes a €30 million EU grant, €135 million in concessional financing from the European Investment Bank, and €45 million in concessional financing from the French Development Agency.
Ali Abu Senna, CEO of the Egyptian Environmental Affairs Agency, stated that the French Development Agency is contributing a €45 million concessional loan to the GSI program, in addition to the €135 million loan from the European Investment Bank and a €30.5 million grant from the European Union.
This brings the total program financing to €271 million, directed toward supporting industrial facilities in implementing a range of green projects.
He noted that the Green Sustainable Industries Program aims to achieve several strategic national objectives, most notably enhancing the export capacity of Egyptian industries by helping facilities comply with international environmental standards and the requirements of foreign markets, particularly European markets.
This support will help remove barriers to the entry of Egyptian products abroad and expand their export share.
