EBRD to support six Egyptian “Smart Green Governorates” startups

EBRD to support six Egyptian “Smart Green Governorates” startups

EBRD and the Ministry of Planning and Economic Development are to sign an agreement to grant 6 out of the 18 winning startups a comprehensive package of technical support, training, and business advisory services.

The Ministry announced that EBRD will be providing support to 6 startups from the ministry’s “Smart Green Governorates” initiative. The Smart Green Governorates is a Planning and Economic Development Ministry initiative aiming to showcase Egyptian green projects during COP27 and help them attract global investments.

The initiative covers six categories of projects: megaprojects; medium projects; small and local projects, especially those related to the Decent Life presidential initiative; startups; non-profit social initiatives, and development projects related to women, climate change, and sustainability.

The six selected Egyptian startups are Rabbit Mobility, Noornation, Engazat, Banlastic, Kadet el Mostakbal, and Archtech.

The support package includes access to EBRD’s network of more than 400 qualified local business consultants and 1,500 international experts.

The European Bank for Reconstruction and Development (EBRD) recently lend $4.95 million to TAQA PV for Solar Energy as part of EBRD aiming to promote the expansion of renewable energy in Egypt. The funds will finance the construction and operation of a 7 MWp solar photovoltaic (PV) project in El Minya.

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