EBRD to support six winning projects from Egyptian green initiative

Habiba Hamdy , Sunday 13 Nov 2022

The European Bank for Reconstruction and Development (EBRD) will support six Egyptian projects selected as winners in the country’s National Initiative for Smart Green Projects (SGG).

Egyptian Ambassador Hisham Badr speaks at COP27. (Photo courtesy of Egyptian Cabinet).


The step comes in accordance with an agreement reached between the EBRD and the country's Ministry of Planning and Economic Development, the ministry announced on Sunday.

The six small and medium-sized companies have been picked out of 18 winning projects in the National Initiative for Smart Green Projects.

The selected projects will receive a comprehensive package of technical support, training and business advisory services, said Hisham Badr, the general coordinator of the initiative.

Badr praised the agreement between the EBRD and the ministry as "a positive step" that will help increase the number of smart green projects by providing the necessary support for the projects to reach their goals.

The chosen projects are the Rabbit project, the Noornation project, the Engazat project, the Banalstic project, Kadet El-Mostakbal and Archtech projects.

In August, Egyptian Prime Minister Mostafa Madbouly launched the SGG initiative in a bid to foster climate action with a holistic approach that also aims to achieve the Sustainable Development Goals (SDGs).

The initiative comprised a competition at a range of scales across the country’s governorates, paying special attention to development projects related to women, and the countryside-focused Decent Life presidential initiative.

Badr pointed out that the green project initiative is the first of its kind and that it represents a leap in Egypt's endeavors towards climate action, the statement added.

The EBRD is primarily concerned with private sector development and green economy transition.

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