Moreover, the EU’s investment arm, the European Investment Bank (EIB), committed €600 million in new finances mainly to the private sector.

The two-day conference focused mainly on the opportunities for investment in Egypt – especially in renewable energy, transportation, power generation, digital transformation, and green transition – and on supporting Egypt’s budget and structural economic reforms.

Green hydrogen
 

On Sunday, the second day of the conference, Prime Minister Mostafa Madbouly witnessed the signing of a deal to establish a global facility for green hydrogen in Egypt, which aspires to become a green hydrogen production hub.

Similarly, the Sovereign Fund of Egypt (TSFE) inked on Saturday an agreement with Orascom Construction, Fertiglobe, and SCATEC to construct a project of green hydrogen production to produce 13,000 tons annually with a total capacity of 100 MW.

The project also includes establishing two solar and wind power plants with a total capacity of 250 MW.

Moreover, the Red Sea Ports Authority and the New and Renewable Energy Authority signed an agreement with the Egyptian-Emirati Zero Waste and the French EDF Renewable to establish a €7 billion project of green hydrogen and green ammonia production in Ras Shokeir area in South Sinai.

On Sunday, The TSFE signed four agreements for green ammonia production worth $33 billion.

• The first agreement concerns a deal with DAI Infrastructure to establish an $11 billion project for producing green ammonia at East Port Said port.
• The second agreement concerns a deal with Energy OCIOR to establish a $4.2 billion green ammonia production project that targets the European market.
• The third agreement concerns a deal with a consortium that includes TAQA Arabia and VOLTALIA to establish a $3.5 billion ammonia project at Ain Sokhna Port.
• The fourth agreement concerns a deal with British Petroleum (BP), UAE’s MASDAR, Infinity Power, and Hassan Allam Utilities to establish a $14 billion green ammonia production project at Al-Sokhna Port.  

Development grants
 

On Sunday, Rania El-Mashat, Egypt’s Minister of International Cooperation, signed six development grant agreements with the EU, the French Development Agency (AFD), and the European Investment Bank (EIB).

She also inked four agreements with Olivér Várhelyi, European Commissioner for Neighborhood and Enlargement Policies, including an agreement about the INTERREG NEXT MED Cross-Border Cooperation Programme for the Mediterranean Basin, Phase 2021-2027.

The Cross-Border programme is a €292 million programme that benefits 15 Mediterranean countries (including Egypt) by helping them achieve three objectives through innovative projects. These objectives are promoting green transformation, enhancing competitiveness, and supporting governance and inclusivity.

Furthermore, during the Egypt-EU conference, the EU supported its youth employment and skills in Egypt (EU4YES) programme with a €25 million grant under the Global Europe Neighbourhood and International Cooperation Mechanism.

The programme aims to support youth and adults in gaining relevant technical and vocational skills for employment, fair-income jobs, and entrepreneurship.

Moreover, the EU provided an €8 million grant, under the Neighbourhood and International Cooperation Mechanism, to support its programme for protecting future generations.

The programme aims to support Egypt's national approach to child protection systems by focusing on policy, legal, and institutional frameworks to combat child labour, improve access to comprehensive services, and create a positive social environment for children by ensuring their rights to education, health care, and nutrition.

Grain Storage

El-Mashat, Ali El-Moselhi, Minister of Supply and Internal Trade, alongside the EU and the AFD, signed an agreement whereby the Egyptian government receives a €56.7 million grant, managed by the AFD, to improve grain storage in Egypt.

The agreement aims to develop wheat silo storage capacities, increasing Egypt's resilience against wheat supply market disruptions and external shocks.

It also involves increasing the capacity of wheat silos and their number and improving the efficiency and quality of the local wheat supply chain by facilitating local wheat supply and reducing grain losses from traditional open storage facilities.

The agreement would also help Egypt improve wheat storage conditions in silos, which will be specifically designed to withstand climate conditions to maintain grain quality.

Technical Support Project

The EIB agreed to provide a €2 million grant, under the Preparatory Technical Support Project for Sludge Management in Egypt. This grant should benefit the Ministry of Housing, Utilities, and Urban Communities as it provides technical assistance to prepare necessary studies for sludge management at several priority sites in Egypt.

The grant aims to help the Ministry of Housing replicate identified model solutions across other sites to enhance sustainable development goals, including good health and well-being, clean energy, sustainable cities and communities, responsible consumption and production, and climate action.

Green industries projects

During the second day of the conference, El-Mashat signed and witnessed the signing of two agreements totalling $621 million with the EIB and the SPE Capital Fund to develop Green Sustainable Industries (GSI) and enhance investment in shares of private sector companies in strategic sectors.

El-Mashat, Yasmin Fouad, Minister of Environment, Gert Koopman, Director-General for Neighborhood and Enlargement Negotiations at the European Commission, and Gelsomina Vigliotti, Vice President of the European Investment Bank, signed the Green Sustainable Industries Project agreement valued at €271 million.

The agreement comes within the state's efforts to collaborate with development partners to promote the transition to a green economy and support climate action. The project aims to support Egypt's industrial transition to a green economy by implementing climate change and environmental sustainability measures.

Furthermore, El-Mashat witnessed the signing of an agreement worth $350 million between the EIB and the SPE Capital Fund, through which the EIB aims to enhance the fund's investments in high-growth company shares, especially in healthcare, pharmaceuticals, education, manufacturing, financial services, logistics services, and consumer goods sectors in Egypt, Tunisia, and Morocco.

Gelsomina Vigliotti, Vice President of the Bank, and Nabil El-Treki, Managing Partner and CEO of SPE Capital signed the agreement.

The funding is expected to create over 10,000 job opportunities and enhance economic development in Egypt and North Africa.