The cabinet approved at its weekly meeting Thursday, led by Prime Minister Mostafa Madbouli a presidential decision on the financing agreement, offered by the European Investment Bank (EIB).
The deal is aiming to contribute to financing “Sustainable Green Industry” project. It was signed on December 31,2023.
The project aims to support the green transformation in the industrial sector by implementing climate change and environmental sustainability measures.
The project will cover all governorates of the country, with a focus on industrial sites and areas affected by pollution, especially air or water pollution, to combat the negative impact on residents and the surrounding environment.
Through these funds, loans will be provided to companies operating in the industrial sector, both in the public and private sectors, to encourage the implementation of investment plans in key areas. These include eliminating industrial pollution of air, water, soil, and workplaces, removing carbon from the industrial sector through the use of renewable energy, green hydrogen, biogas, and developing sustainable industrial practices through energy resource efficiency and circular economy interventions.
In a related development, the cabinet agreed on completing measures to enact a law granting a commitment to build, develop the superstructure, use, manage, operate, make use of, maintain, and re-deliver an integrated service logistics station for the handling and storage of clean dry bulk goods on the pier (85/3) at Alexandria port.
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