File Photo: European Investment Bank. Photo courtesy of EU neighbours website.
The funding is part of the broader Egyptian Green Sustainable Industry program, including a 135 million euro loan from EIB Global.
Of the 21 million euros, 20 million will co-finance projects to reduce carbon emissions, enhance recycling, and cut pollution—key goals in Egypt’s transition to a greener economy.
An additional one million will support the digitalization of the Egyptian Environmental Affairs Agency, enhancing its environmental monitoring and enforcement capabilities.
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said the initiative strengthens public-private cooperation while advancing sustainable industrial practices and circular economy models.
EIB Vice-President Gelsomina Vigliotti added that the partnership would help Egyptian companies access climate finance and scale up renewable energy investments.
The agreement forms part of the EU-Egypt Investment Guarantee for Development Mechanism, which seeks to mobilize up to five billion euros in public and private investment between 2024 and 2027, reinforcing Egypt’s strategic green partnership with the EU.
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