The European Bank for Reconstruction and Development (EBRD) announced on Thursday that Cairo, Alexandria, and 6th of October city have joined the EBRD’s urban sustainability programme ‘EBRD Green Cities’.
During her ongoing visit to Egypt, the EBRD’s President Odile Renaud-Basso signed Memorandums of Understanding (MoUs) with Egypt’s New Urban Communities Authority (NUCA), to add Cairo, Alexandria, and the 6th of October City to the EBRD's Green Cities Programme.
The signing ceremony was attended by Minister of International Cooperation Rania Al Mashat, Minister of Local Development Mahmoud Shaarawi, and a number of Egyptian officials.
By signing this MoU, the 6th of October City becomes the programme’s 46th member.
“The EBRD looks forward to working with Egypt on this flagship programme, to support the development of greener infrastructure, building a better and more sustainable future for city residents. Contributions from our donors, including the Taiwan Business-EBRD Technical Cooperation Fund and the Austrian Federal Ministry of Finance via the EBRD-administered City Regeneration and Environment (CREATE) Fund, are fundamental in providing the necessary support for the implementation of Green City Action Plans (GCAPs) in Egypt”, said the EBRD’s president.
On her side, Minister Al-Mashat said that Egypt’s government is paving the way for inclusive and resilient infrastructure through sustainability-led urban development and low-carbon mobility.
She added that Egypt’s partnership with the EBRD in its flagship urban sustainability programme serves as a regional example for future city development, ensuring a green and safe urban environment for all.
“This is integral to achieving the 2030 Sustainable Development Goals,” Al-Mashat affirmed.
The EBRD’s €2.5 billion Green Cities Programme provides finance to invest in sustainable municipal infrastructure to help cities become greener.
With almost three-quarters of greenhouse gas emissions coming from cities, this is an effective way to tackle climate change, according to the EBRD.
For Cairo and Alexandria, the EBRD said that it is interested in supporting the rehabilitation and upgrade of metro Line 2 in Cairo, while the focus in Alexandria is on upgrading and electrifying an existing metro line that connects downtown Alexandria with the north-eastern town of Abu Qir.
Additionally, the development of a dry port in 6th of October City is the first project to be explored under the EBRD’s MoU with NUCA.
Egypt is a founding member of the EBRD. Since the start of its operations in 2012, the Bank has invested close to €7.2 billion in 127 projects in the country.
Ranaud-Basso started a high-level two-day visit to Egypt on Wednesday, the first official visit since she came into office in November.