Egypt aims to double funding for green projects

Egypt aims to double funding for green projects
Egypt is planning to double the state’s funding for green projects to 30 percent of its overall investment plan during the fiscal year 2021/2022. (Shutterstock)
Short Url
Updated 16 June 2021

Egypt aims to double funding for green projects

Egypt aims to double funding for green projects

CAIRO: Egypt is planning to double the state’s funding for green projects to 30 percent of its overall investment plan during the fiscal year 2021/2022 and to raise it to 50 percent by 2024/2025.

Sherif Daoud, deputy head of the Sustainable Development Unit at the Egyptian Ministry of Planning and Economic Development, said green projects currently represent 15 percent of the state’s investment plan during the current fiscal year 2020/2021.

Daoud said green projects focus on the transport, housing, and electricity sectors. 

He said the government is preparing a package of incentives to encourage the private sector to participate more in the green economy. He said the first national report on financing sustainable development projects is also being prepared.