EBRD allocates $2 billion to finance green projects in Egypt during 2023

Harmgart's remarks came during a meeting with Rania Al-Mashat, Minister of International Cooperation, and several representatives of international banks and institutions to follow up on the efforts to mobilize innovative tools to finance the energy axis within the NWFE.

NWFE, the Nexus of Water, Food and Energy, is Egypt's national plan to mobilize climate finance and investments from international institutions to accelerate the country's green transition.

Al-Mashat said that Egypt plans to transform into a regional centre for renewable energy.

During her participation in the meeting, Clemence Vidal, Director of the French Development Agency’s office in Egypt, stressed the agency's commitment to support the NWFE and provide €100 million of financing besides a €10 million grant.