Egypt cabinet ratifies EIB’s financing deal for Sustainable Green Industry project

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The agreement will contribute to financing the Sustainable Green Industry project

Staff Writer, Arab Finance

March 3, 2024

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The Egyptian cabinet has approved the presidential resolution on the financing agreement signed with European Investment Bank (EIB) on December 31st, 2023, as per a cabinet statement.

The agreement will contribute to financing the Sustainable Green Industry project.

The project aims to support the green transition in the industrial sector, including climate change and environmental sustainability measures.

It will also cover all the governorates, with a focus on industrial sites and areas affected by pollution.

Furthermore, the cabinet has authorized The Sovereign Fund of Egypt (TSFE) to sign a contract with a specialized international legal advisor to set the terms and conditions for the investment contracts in the green hydrogen field.

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