Minister of Investment and Foreign Trade Mohamed Farid held a meeting with Assistant Foreign Minister for climate, environment, and sustainable development, Wael Abou El-Magdto explore mechanisms for channeling international financing toEgypt’s green transition and boosting the competitiveness of Egyptian exports.
The meeting discussed efforts to strengthen government coordination to maximise the use of international funds earmarked for climate action, directing them to priority projects. Discussions also covered developing national mechanisms for financing emission‑reduction projects, leveraging carbon markets, and preparing Egyptian exports to meet global environmental requirements.
Farid noted that Egypt is working to align international financing with priority projects to enhance economic competitiveness. Abou El‑Magd emphasised that unifying Egypt’s national vision in dealing with international financial institutions will strengthen the country’s ability to attract development funding.
The meeting reviewed proposals for projects aimed at reducing the carbon footprint of high‑emission industries such as fertilisers and aluminum, including investments in supply chain development. Other ideas included expanding wastewater treatment projects to produce organic fertilisers and biogas, recycling sugar industry waste for use in cement production, and creating added economic value while cutting emissions.
Officials discussed establishing a specialised investment fund under Egypt’s sovereign wealth fund to manage green financing, forming a joint investment committee to evaluate and approve projects, and promoting opportunities in the green economy to attract investors.
They also examined ways to benefit from international carbon markets by issuing and trading carbon certificates, while strengthening Egypt’s domestic carbon market to support emission‑reduction projects and improve the competitiveness of Egyptian products abroad.
