EBRD to fund $200 to 300m of the public investment plan under Egypt’s NWFE’s energy pillar

EBRD to fund $200 to 300m of the public investment plan under Egypt’s NWFE’s energy pillar

EBRD President Odile Renaud-Basso announced that they endorse Egypt’s Country Platform for NWFE (Nexus of Food, Water and Energy) under the energy pillar.

Basso highlighted that EBRD will expand its contribution to support Egypt’s just energy transition through a total fund of $200-300m of the public investment plan under Egypt’s NWFE- energy pillar, and invest up to $1 billion in the associated renewable energy program.

NWFE is a program launched by Egypt’s Ministry of International Cooperation in July to promote the implementation of green development projects in the vital sectors of water, food, and energy by attracting foreign funds in this regard.

Basso made the announcement during the second edition of the Egypt-International Cooperation Forum (Egypt-ICF), which started on Wednesday at the New Administrative Capital.

Egypt-IFC connects global policymakers, ministers, development partners, private sector, civil society, and academics head of the COP27, to discuss a wide range of priority subjects including climate action and the green transition, innovative and blended finance, food security, and South-South cooperation; all with a special focus on the African continent. 

Also read: Flat6labs and SANAD launch an AgriTech accelerator program to support Egyptian startups

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.