CAIRO – Egyptian Environment Minister Yasmine Fouad said there has been strong coordination between the Ministries of Environment and Industry to promote the concept that environment supports rather than hinders industry.
Fouad made the remarks while chairing the 19th meeting of the Environment Protection Fund’s board to discuss enhancing the fund’s role in environment support and protection.
They reviewed decisions from the previous meeting, outlined upcoming priorities, and approved the fund’s financial status and budget.
The minister referred to the efforts exerted by the Environment Ministry in coordination with the General Authority of Industrial Entertainment to accelerate the issuance of environmental approvals that now take seven working days.
She reiterate the political leadership’s commitment to prioritising key issues, notably industry and supporting investments in this vital sector as well as overcoming obstacles facing investors in order boost Egyptian industry and enhance its presence in global markets, she added.
She said taking into consideration environmental dimensions during the manufacturing processes is crucial for industry advancement and global market access.
She added that the ministry has programmes offering soft loans to industrial facilities to support them in achieving environmental compliance because this will help them reduce operational costs and at the same time making sure that they do not harm the environment.
For his part, Head of the Environmental Affairs Agency Ali Abu Senna reiterated the Agency’s support for industrial projects in order to enhance Egypt’s presence in global markets.
Ahmed Kamal from the Federation of Industries proposed increased support from the Environment Protection Fund for small and medium-sized projects, highlighting their efforts since 2005 to ensure environment protection, energy efficiency, and green initiatives.
Kamal said that the main purpose is to help companies achieve environmental economic compliance while generating economic returns through environmentally-friendly practices.
He said funding offered to factories increased from 3 million Egyptian pounds per factory to approximately 7 million pounds by 2018 and that it comes in a form of a soft loan repaid over 5 years.
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