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  • Monday, 18 December 2023

The Ministry of International Cooperation’s Annual Report: $2.44 billion in development financing for the electricity, renewable energy, petroleum, and environment sectors over the past 4 years.

● Implementing a program to improve energy efficiency and enhance investments in the infrastructure of the petrochemical sector

● Strengthening technical support to support the country’s strategy in generating green hydrogen and expanding clean energy sources

● Implementing the air pollution control project in Greater Cairo in cooperation with the World Bank and signing the sustainable green industries program in cooperation with the EIB.

The annual report of the Ministry of International Cooperation for 2023, entitled “International Partnerships for Sustainable Development: Platforms for Policy and Practice,” revealed that the total development financing for the various sectors of the country amounted to $28.5 billion from multilateral and bilateral development partners, where $2.44 billion is intended for electricity, renewable energy, petroleum and environment sectors constitute 8.4% of the government’s total development funding in the past four years.

The report explained that these funds come in light of the efforts undertaken by the state to transition to a green economy, expand renewable energy projects, rehabilitate power plants, enhance the state’s vision in the field of green hydrogen, and implement the state’s efforts in the field of solid waste management and combating air pollution.

Electricity, renewable energy and petroleum sector

The total development financing for the electricity, renewable energy, and petroleum sectors amounted to about $1.96 billion during the period from 2020 to 2023. The Ministry of International Cooperation signed three grants, the first worth $10 million from Germany for a project to enhance energy efficiency, the second worth $1 million from the Swedish International Fund for a project to improve the continuity and efficiency of the electricity network, and the third grant worth $1 million from the French Development Agency to enhance technical cooperation to develop the green hydrogen sector.

Technical cooperation to develop the green hydrogen sector enhances the role of the electricity and renewable energy sector through the use of green hydrogen as the clean fuel of the future and the true leader of the second wave of the global energy transition, given that its production depends on clean renewable energy sources and is more efficient than other energy sources.

A development financing agreement was signed with the European Bank for Reconstruction and Development worth $50 million in additional financing for the program to improve the energy efficiency of the Suez Petroleum Manufacturing Company, as the project aims to improve energy efficiency in the Arab Republic of Egypt, by improving the performance of the oil and gas sector, and renewing investments. In the Egyptian petrochemical infrastructure.

Financing worth $1.85 billion was also signed from the International Islamic Trade Finance Corporation to import petroleum and its products, in addition to financing worth $17 million from Germany for a project to rehabilitate hydroelectric stations, and another financing with Germany worth $29 million to rehabilitate hydroelectric stations in Aswan Governorate, where It aims to replace and renew the transformers of the water stations in Aswan Governorate so that the electrical energy generated by the water stations can be benefited until the end of its life. It also aims to maintain the operational efficiency of the stations and benefit from the operational economic competitiveness of the stations in light of their low operating costs.


In the field of the environment, the total development funding over 4 years amounted to about $440 million, to implement many projects, most notably the project to combat air pollution and climate change in Greater Cairo, funded by the World Bank Group at a value of $200 million, which aims to improve air quality by reducing From various emissions from vital sectors, increasing the ability to resist air pollution in Greater Cairo, and reducing concentrations of pollutants, especially those with the most harmful effects on health, the economy, and sustainability of all kinds. The World Bank also made available a grant worth $9 million to enhance project activities.

The project consists of five main components: strengthening the system to support decision-making on air quality, supporting the activation of master plans for solid waste management in Greater Cairo, reducing the emission of Public Transport Authority vehicles, changing behaviors, raising awareness and communication, and project management, monitoring and evaluation.

In addition, during the year 2023, development financing was provided by the European Investment Bank to implement the sustainable green industries project. The European Union also made two grants worth $21 million available to contribute to the implementation of the third phase of the industrial pollution control program and the growth program through Egyptian environmental networks. In the same context, Germany made available two grants worth $14 million for the National Solid Waste Management Program for its first and third phases.

Among the environmental sector agreements are a US grant worth $21 million for the Climate Initiative Agreement, and a French grant worth $2 million for the Climate Finance Transformation Programme.

For more details about the annual report of the Ministry of International Cooperation