The Minister of International Cooperation and Governor of Egypt at the World Bank Group (WBG), H.E. Dr. Rania A. Al-Mashat, said that the Grand Egyptian Museum obtaining the EDGE green building certificate as the first museum in Africa and the Middle East reflects the approach adopted by the country to pave the way towards a more sustainable future, adopt environmental standards, and expand efforts of transition to a green economy.

This came during H.E.'s speech delivered via video at the event organized by the International Finance Corporation (IFC), a subsidiary of the World Bank, to announce the Grand Egyptian Museum as the first museum to obtain the EDGE green building certification in the Middle East and Africa.

Al-Mashat explained that the Grand Egyptian Museum is one of the most important Egyptian projects, and the largest museum that includes artifacts from Ancient Egypt. H.E. added that the museum’s status as a green building showcases the idea of ​​sustainability and the adoption of environmental standards.  

This is consistent with the government’s commitment to promoting sustainable and green infrastructure. This certificate also highlights the constructive cooperation and successful partnership between the Arab Republic of Egypt and the IFC in the green building program, and its diversification in many other sectors under the Egypt - World Bank Group Country Partnership Framework (CPF) 2023-2027.

Al-Mashat pointed to the constructive cooperation between the Arab Republic of Egypt and the IFC in the field of green buildings, which reflects the government’s commitment to expanding sustainable and effective construction efforts.

H.E. also pointed out that the Grand Egyptian Museum obtaining this certificate is an affirmation of its commitment to standards of sustainability, energy efficiency and preservation.

Al-Mashat added that today's celebration reflects the strategic partnership between the Arab Republic of Egypt and the IFC and its significant development over the past years, in light of the great joint efforts to advance development efforts in various sectors under the leadership of H.E. President Abdel Fattah El-Sisi, the President of the Arab Republic of Egypt.

Al-Mashat highlighted the continued cooperation with the IFC to support the green transformation agenda in Egypt, under the umbrella of the Egypt - World Bank 2023 - 2027 CPF, to ensure the achievement of comprehensive and sustainable development in Egypt, through three principles of Economic Diplomacy; hosting multi-stakeholder platform meetings to enhance cooperation with multilateral and bilateral development partners, mapping official development assistance (ODA)  to the Sustainable Development Goals (SDGs), and the Global Partnerships Narrative which puts People at the Core, Projects in Action, and Purpose as the driver.

Al-Mashat stated that obtaining this accreditation for the Grand Egyptian Museum does not only mean its commitment to environmental standards, but it goes beyond that to confirm the collective commitment of the government and development partners to joint work to achieve a sustainable and flexible future, to confront environmental challenges, and to conserve resources.

At the conclusion of her speech, Al-Mashat expressed her aspiration to continue constructive cooperation with the IFC in implementing more projects and expanding the adoption of green buildings within the framework of joint cooperation.

It is worth noting that the Green Buildings Enhancement Program works to enable emerging markets to expand the scope of green buildings that are efficient in using resources in an effective manner. The program also allows developers to identify the most cost-effective strategies to reduce energy and water use and reduce carbon emissions of the private sector companies that have obtained this certificate in Egypt.

The relationship between the Egyptian government and the lFC with the World Bank, and the relationship with the institution is based on three principles: employment, integration, and comprehensiveness.

The current investment portfolio directed to the private sector in Egypt amounts to about $1.84 billion in the financial markets and business agriculture, health, education, manufacturing, tourism, retail, construction and real estate, infrastructure, petroleum and mining. In January 2024, the corporation pumped private sector investments worth $26.8 million into a number of sectors for private sector companies.