EBRD Invests In Green Economy In Egypt

Last year, the European Bank for Reconstruction and Development (EBRD) invested around €1 billion in 20 projects in Egypt out of which 44% was invested in green economy of the country.

One of the major green investment was to develop the Kom Ombo Solar Plant with $36 million packages and this plant will generate 200 MW of energy and further will increase renewable energy share in Egypt’s energy mix.

The green financing of EBRD reached €5.4bn in 2021 which is 29% more investment from 2020. EBRD is working towards achieving the targets of Paris Agreement to limit the climate change and to make most of its investments green by 2025.

Egypt is a founding member of the EBRD. Since the start of its operations in Egypt in 2012, the EBRD has invested more than €8 billion in 138 projects in the country. 

Recently, President of Egypt, El-Sisi inaugurated the Benban Solar Energy Complex with the capacity of 1465 MWs in Aswan, Egypt. The complex was set up in partnership with international expertise and the private sector.