EBRD launches program to support Egyptian women's economic inclusion

MENA , Tuesday 5 Mar 2019

The European Bank for Reconstruction and Development (EBRD) launched a new program for enhancing employment and entrepreneurship opportunities for women in green energy in Egypt.

"EBRD is putting women at the center of its commitment to Egypt's transition to a green economy with a new initiative that supports the country’s vast potential for renewable energy," the bank said in a statement.

"The Program for Supporting Renewable Energy and Promoting Gender Equality in Egypt aims to identify and address the key barriers hindering the development of the region’s renewable energy economy," the statement read.

It is one aspect of a joint $ 7 million technical cooperation initiative co-funded by the EBRD and the Green Climate Fund (GCF). Its aim is to enhance renewable energy integration, policies and planning to support the country in meeting its target of 20 percent renewable energy generation by 2022 and 42 percent by 2035, it added.

"With one of the fastest-growing populations globally, Egypt has seen a rapid increase in energy demand in recent years. To meet that need, Egypt and the EBRD have identified scaling up the country's renewable energy capacity as a strategic priority," the bank said. "As a result, the Egyptian renewable energy sector is set to create new jobs, which represents a significant opportunity for women in Egypt to expand their skills and participate in a high-value, high-growth sector."

The program will strive to identify challenges that prevent women’s participation in the sector and potential skills mismatches, and will work with the Egyptian authorities to overcome these issues, it added.

To date, EBRD has committed over €4.8 billion to financing 91 projects in Egypt, including 16 renewable projects, across a wide range of sectors. 

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