Egypt’s Minister of Industry Khaled Hashem met on Thursday with Mark Davis, Managing Director for the Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development (EBRD), and an accompanying delegation to review the bank’s current projects in Egypt and discuss avenues to strengthen co-operation in the industrial and green economy sectors.
The meeting reviewed projects financed under the NOVI programme as a leading model for concessional green finance, the ministry said in a statement.
During the meeting, the bank reiterated its commitment to supporting Egypt’s application to the Climate Investment Fund (CIF), a key global initiative aimed at reducing industrial emissions in developing countries.
The statement also highlighted financing and grant mechanisms provided in partnership with the Green Climate Fund and the Green Energy Fund to support private sector development, enhance supply chains, and address the Carbon Border Adjustment Mechanism (CBAM).
Minister Hashem, for his part, confirmed that the ministry is currently reviewing and consolidating the National Industrial Strategy to reflect evolving global challenges, with a focus on increasing exports, strengthening feeder industries, and expanding local content in manufacturing.
Environmental sustainability remains central, with particular emphasis on transitioning towards a green industrial economy, improving energy efficiency, and integrating renewable energy solutions across industrial zones, the minister noted.
He further outlined plans to prioritise 5–7 key industries and supporting sectors based on resource availability, supported by detailed industrial mapping and competitive incentives for investors.
For his part, EBRD’s Davis reaffirmed the bank’s role as a strategic partner, noting the mobilisation of $3.9 billion in concessional finance under the NOVI programme, enabling the development of 4.2GW of renewable energy capacity.
He also proposed consolidating international climate finance mechanisms under a unified platform managed by the Ministry to ensure effective coordination and maximise impact.
