The deal, inked by the Egyptian Environmental Affairs Agency (EEAA), funds the Green Sustainable Industry (GSI) program, a national initiative running through 2030 that will channel financing and technical support to factories and companies adopting cleaner, more resource-efficient production methods.
The agreement is backed by the European Union and the European Investment Bank alongside the French Development Agency (AFD).
Minister of Local Development and Environment Manal Awad called it "a significant step" in making Egyptian industry more competitive globally, citing tightening international market requirements around environmental standards.
"Investment in green industries is a fundamental pillar for building a more resilient economy," a statement released following the signing ceremony quoted her as saying.
The program targets emission and pollution cuts, improved energy and water efficiency, and greater access to global markets for Egyptian goods.
It will also fund projects in renewable energy, green hydrogen, and the circular economy.
Beyond industry, the deal includes a digital overhaul of Egypt's environmental impact assessment system and capacity-building for EEAA staff.
The deal was one of eight cooperation agreements signed Tuesday between Egyptian agencies and French and European development partners, reflecting.
The step reflects deepening ties between Cairo and Paris on sustainable development, the statement added.
The deal fits into Egypt's broader push to green its economy. Under its 2024–2030 economic strategy, Cairo has set a target of raising green investments to 75 percent of total investment by 2030, more than double the current 30 percent.
It also seeks to lift the green economy's share of GDP to at least five percent.
Additionally, renewables are set to make up 42 percent of the country's energy mix by the decade's end, with 2,500 megawatts of new clean capacity slated for the national grid next year alone.
Longer-term, Egypt has its sights on green hydrogen, with a national strategy targeting a 5–8 percent slice of the global hydrogen market by 2040.
Short link: