The EBRD is a current shareholder in the company, having invested $60 million in 2020.
The new funding comprises a $ 4.95 million loan from the EBRD and a $ 550,000 concessional loan from the Global Environment Facility (GEF) to finance the construction and operation of a 7 MWp solar photovoltaic (PV) project in El Minya.
The EBRD elaborated that the loan follows the success of the Green Economy Financing Facility (GEFF) in Egypt, and will support an expansion of green lending in Egypt to under-served regions for investments in climate change mitigation and adaptation technologies and services.
President Abdel-Fatah El-Sisi received, Wednesday, Odile Renaud Basso, President of the European Bank for Reconstruction and Development (EBRD), in the presence of Prime Minister, Mostafa Madbouli, Minister of Foreign Affairs, Sameh Shoukry, and Minister of International Cooperation, Rania Al-Mashat.
"The EBRD helped Egypt green its economy and generate growth and opportunities for its citizens across the country," she added.
President Abdel Fattah El Sisi said Egypt highly values distinguished relations with the European Bank for Reconstruction and Development (EBRD),
The European Bank for Reconstruction and Development's (EBRD) financing in Egypt may exceed 1 billion euros this year in light of Egypt's hosting of the climate change conference (COP27) in November, said Managing Director for the EBRD’s Southern and Eastern Mediterranean (SEMED) region Heike Harmgart.
According to Mashat, all efforts are meant to build up toward realizing sustainable development goals.
The House of Representatives approved the decision of the President of the Arab Republic of Egypt No. 122 of 2022 regarding the approval of a loan agreement (Alexandria Metro) between Egypt and the EBRD in the amount of €250 million, signed in Cairo on Dec. 27, 2021, according to a statement.
GlobalCorp for Financial Services is specialized in non-banking financial services in Egypt.
The session was moderated by Heike Harmgart, Regional Director for the Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development.
She expected hydrocarbon energy purchases from Egypt to rise in the future.
The Minister highlighted in the meeting that Egypt pursues a win-win approach in all partnerships, as it aims to achieve complementarities and to share Egypt’s experience in development financing to other countries through South-South and triangular cooperation.
Egypt's economy showed resilience in the face of the pandemic, as it has done better than other countries, he further said.
The Minister noted that women and girls are recognized as effective change-makers for climate adaptation and mitigation.
The EBRD elaborated in a statement that the upgrade of the infrastructure and electrification of an existing rail line will make it the first high-capacity metro line in Alexandria.
The EBRD clarified in a statement that it is helping Egypt to achieve its renewable energy potential and to transition to a greener economy through this strategy.
EBRD elaborated that this new public-private partnership and policy dialogue platform will develop skills-gap analysis, skills development strategies, qualification frameworks and occupational skills standard.
SCZONE elaborated that this phase is based on the establishment of an integrated digital and interactive service, enabling it to fully manage the services provided, and integrate new services into a digital platform in accordance with the framework organizational body.
𝘛𝘩𝘦 𝘯𝘦𝘸 𝘤𝘰𝘶𝘯𝘵𝘳𝘺 𝘴𝘵𝘳𝘢𝘵𝘦𝘨𝘺 𝘤𝘰𝘮𝘦𝘴 𝘢𝘵 𝘢 𝘱𝘪𝘷𝘰𝘵𝘢𝘭 𝘵𝘪𝘮𝘦 𝘵𝘩𝘢𝘵 𝘦𝘤𝘩𝘰𝘦𝘴 𝘨𝘭𝘰𝘣𝘢𝘭 𝘴𝘦𝘯𝘵𝘪𝘮𝘦𝘯𝘵 𝘵𝘰 𝘥𝘳𝘪𝘷𝘦 𝘵𝘩𝘦 𝘨𝘳𝘦𝘦𝘯 𝘧𝘪𝘯𝘢𝘯𝘤𝘦 𝘢𝘨𝘦𝘯𝘥𝘢 𝘧𝘰𝘳𝘸𝘢𝘳𝘥 𝘢𝘯𝘥 𝘢𝘥𝘥𝘳𝘦𝘴𝘴 𝘤𝘭𝘪𝘮𝘢𝘵𝘦 𝘤𝘩𝘢𝘯𝘨𝘦, 𝘦𝘲𝘶𝘪𝘵𝘺, 𝘢𝘯𝘥 𝘨𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦, according to Minister Rania Al-Mashat.