The Sustainable Sovereign Financing Framework, recently unveiled by the Egyptian government, will enhance national green recovery efforts, a senior government official said.
The framework will also achieve comprehensive and sustainable development, Minister of Finance, Mohamed Maeet, added on Sunday.
He noted during a ceremony held at his ministry to honour the members of the Joint Ministerial Working Group that the government works to attract environmentally friendly investments, including in the fields of electric cars, natural gas-powered vehicles, solar energy, green hydrogen, seawater desalination, and wind power generation.
“These investments will help improve Egypt’s competitiveness in the Environmental Performance Index by increasing the proportion of government-funded green public investments to 50% by 2025,” the minister said.
The Joint Ministerial Working Group is made up of 12 representatives of different ministries. The ceremony was held in appreciation of their fruitful efforts in launching the Sustainable Sovereign Financing Framework.
Minister Maeet said the Egypt 2030 Vision aims to achieve sustainable development.
The vision, he added, is based on key dimensions.
The minister noted that theworking team of the Sustainable Sovereign Financing Framework had been working on completing technical data to add new categories to green and social projects within Egypt’s sustainable Portfolio.
This move, he said, would open the door for the issuance of green, social, sustainable and blue bonds.
“It will also open the door for the issuance of bonds related to women’s empowerment,” the minister said.
“This will be done in a way that reflects the ambitions of the Egypt 2030 Vision,” he added.
