green financing facilities: The future of a green economy in Egypt

Last year, two programs with a total of 220 million for the sake of offering sub-loans to businesses for green investments in energy, water, and other efficient resources.

It was also stated that the programs were complemented by the European Union (EU) grants of more than 50 Million with extra assistance from a third party that facilitates technical assistance and co-finance, this step took place in response to the pandemic on the Egyptian economy with the target of boosting green finance and the development of the private sector’s value chains.

The Green Value Chain program, of 70 million, is targeting small and medium enterprises (SMEs) in Egypt to encourage and improve competitiveness of green value chains by investing in the advanced technologies, climate shifting, and adaptation solutions.

The other program works on the expansion of the Green Economy Financing Facility (GEFF) which provides 150 million to SMEs across multiple sectors: Construction, commercial, manufacturing and agricultural sectors.

It’s strongly believed that the private sector is a key player and has a strong demand for green finance, that’s why it’s important to encourage energy-efficient programs across the entire investment chain.

More than 100 industrial facilities convert to low carbon schemes, which needs a lot of inventiveness of green financing.

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