Egypt approves €7M EU grant under green facility program

President Abdel Fattah El-Sisi has issued a presidential decree approving a financial agreement between Egypt and the European Union under the Green Facility Program.

The agreement secures a €7 million grant to support Egypt’s sustainable development efforts, as announced in Egypt’s Official Gazette.

The approval comes on the heels of the joint launch of the European Fund for Sustainable Development Plus (EFSD+) by the Egyptian government and the EU Delegation in Cairo.

This mechanism offers €1.8 billion in investment guarantees, aimed at catalyzing development financing across partner nations.

The initiative is rooted in a political declaration made during the Egypt-EU Summit in March 2024, co-led by President El-Sisi and European Commission President Ursula von der Leyen.

EFSD+ forms a key part of the EU’s external financial tools and is designed to promote sustainable investments in countries like Egypt.