Egypt’s International Co-operation Minister Rania el-Mashat said that the constructive partnerships with the European Union for reconstruction and development aim at supporting the developmental efforts at the governmental and private levels via easy developmental funds, technical support and consultations.
This came in Mashat’s word during a conference on supporting transition to green sustainability in Egypt held by European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF) to launch the Green Economy Financing Facility (GEFF).
Mashat said that in the second stage of the programme of financing the green economy, easy-term finance will be available for the private sector to boost its competitiveness ability and increase its investments in micro, small and medium enterprises in addition to providing all technical support to boost comprehensive and sustainable growth for these projects.
The programme, launched by the EBRD, the EU and the GCF on Monday, is the result of co-operation between the EBRD and the French Development Agency (AFD) and European Investment Bank to support growth and the green transition in Egypt and face the repercussions of climate change and its negative impact on the environment, she said.
However, Head of the programme of financing the green economy in the EBRD Emad Hassan said that 175 million dollars were allocated for the second stage of the programme to finance the Green Value Chains (GVC) in Egypt.
The EBRD and the EU presented their strategies to support the green transition in Egypt and discuss opportunities and challenges to build climate flexibility in the financial sector via concord with the Paris climate declaration.
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