Environment Min., CBE Discuss Mechanisms to Generate Energy from Waste

Yasmine Fouad, Minister of Environment discussed on Sunday with Tarek Amer, Governor of the Central Bank of Egypt (CBE) ways to support the state’s path in converting waste to energy, in light of the launch of 8 projects in several governorates with an investment cost ranging between $325-390 million.

Fouad said that the political leadership is interested in coming up with a successful model for projects to convert waste to energy in Egypt, which will be a quantum leap in the mechanisms of dealing with the waste problem, according to a statement by the ministry.

The Minister of Environment explained that providing financing packages for projects to convert waste to energy was one of the most important requests for companies investing in this field, after the Ministry undertook its mission to provide investment incentives for the private sector to enter this field by preparing 27 plans for the Egyptian governorates.

She stressed the importance of providing appropriate financing mechanisms for companies operating in the field, given that investment costs are high, especially in light of the state's relentless efforts to establish the system's infrastructure at the cost of EGP 3 billion for the first phase.

She stated that the new waste system is being implemented on 3 tracks, namely establishing the infrastructure for the system from collecting, transporting and recycling, the legislative structure, especially the waste law and its executive regulations, then measuring the performance and following up on the implementation and operation of the system.

She stated that the law also created a solution to the problem of garbage collectors, whereby anyone practicing waste work is required to have a license to practice the profession. The ministry also launched a database in cooperation with the Ministry of Social Solidarity to provide insurance for workers with the possibility of f cooperating with the Ministry of Manpower to give them a job title and provide them with an insurance policy to encourage them to enter the system.

On his part, Tariq Amer praised the trend towards converting waste into energy, which he said is an important national project for countries that addresses the waste problem and its implications for health and the environment.

Amer stressed the importance of these projects, which will give a civilized appearance to the state, expressing his hope to come up with a good model for the environmental project.