Egypt's Green Public Investments to Increase 50% by 2025- Minster

Minister of Finance Mohamed Maait confirmed that the framework for sustainable sovereign financing, which Egypt announced recently, contributes to strengthening the capabilities of the “green recovery” to achieve comprehensive and sustainable development, as the state works to attract environmentally friendly investments.

Green projects include manufacture of electric vehicles or those equipped with natural gas, solar energy, green hydrogen, desalination of sea water, and generation of energy from wind to improve Egypt’s competitiveness in the environmental performance index by increasing the proportion of government-funded green public investments to 50% until 2025.

While honoring the joint ministerial working group, which includes representatives of 12 ministries; in appreciation of their fruitful efforts in launching the “Sustainable Financing Framework”, the minister said that  “Egypt 2030” vision is the basic strategy for achieving sustainable development, and is based on 3 main pillars, including environmental, social and economic.

He pointing out that the “Sustainable Sovereign Financing” framework team worked on completing the necessary technical data to add new categories of green projects with a social dimension within Egypt’s sustainable portfolio.

This allows for the possibility of issuing green, social, sustainable and blue bonds, and bonds related to the empowerment of women; in a way that reflects the ambition of “Egypt 2030” vision, the National Climate Change Strategy 2050, and the national programs for structural reform.