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June 29, 2022


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Egypt obtains financing of 135 million euros from the European Investment Bank for a sustainable green industry project

The Ministry of International Cooperation signed a development financing agreement with the European Investment Bank, worth 135 million euros, and a grant from the European Union worth 30 million euros managed by the European Investment Bank, to contribute to financing the “Sustainable Green Industry” project, for the benefit of the Ministry of Environment (Environmental Affairs Agency), the concerned party. Technical aspects, and it is implemented by the National Bank of Egypt, according to the website of the Ministry of International Cooperation.

Dr. Rania Al-Mashat, Minister of International Cooperation, said that the project aims to support the green transformation in the field of industry, by implementing measures related to climate change and environmental sustainability, as the project will cover the entire governorates of the country, with a focus on industrial sites and areas affected by pollution, especially air pollution. Or water, to combat the negative impact on residents and the surrounding environment.

This comes within the framework of the close relationship between the government and the European Investment Bank, which extends over more than 4 decades and has strengthened development efforts in various government sectors and the private sector through concessional development financing, grants, and technical support.