• Egypt signs €53.8 million deal under the Green Sustainable Industries program

• Funding targets pollution cuts, energy savings, and resource efficiency

• EIB support aims to mobilize $312.6 million in additional green investment

Egypt signed on November 23 a concessional financing and grant agreement with the French Development Agency (AFD) and the European Investment Bank (EIB) under the Green Sustainable Industries (GSI) program, designed to support the country’s green industrial transition.

Valued at €53.8 million ($62 million), the agreement aims to encourage investments that reduce pollution, emissions, and energy consumption while improving resource efficiency.

It also includes an advisory services component financed by the European Union for €8.8 million and managed by the EIB. The projects target energy-intensive sectors such as steel, food processing, and waste management.

In line with its commitments under the Paris Agreement, Egypt aims to cut greenhouse gas emissions and raise the share of renewable energy to 42 % of its electricity mix by 2030. To achieve this goal, the country is pursuing projects ranging from new solar plants to upgrades of transport networks and partnerships with foreign companies to accelerate solar and wind power deployment.

The cost of this transition is estimated at nearly $246 billion by 2030, with about 80 % dedicated to mitigation measures. This financing depends largely on support from international partners, led by the European Union, the World Bank, and the EIB.

In this context, the European Investment Bank aims to mobilize up to $312.6 million in green investments in Egypt, building on an earlier $155.7 million loan to support the shift toward a more sustainable industrial sector.