UK’s Climate Finance Accelerator launches in Egypt

UK’s Climate Finance Accelerator launches in Egypt

Climate Finance Accelerator (CFA), a technical assistance program funded by the UK government, launches in Egypt to support low-carbon projects and connect them with investors.

Applications for the four-year program will open in September until 16th October 2022. CFA Egypt is looking for projects that are at least in the pre-feasibility stage and are in need of financial and technical capacity with each accelerator cycle for the selected project developers lasting six to nine months.

The projects will be selected by Egyptian and international experts based on four main criteria: climate mitigation potential, project maturity, financial structuring, and gender equality and social inclusion.

The Climate Finance Accelerator aims to improve the flow of green finance or climate finance in Egypt by providing climate-friendly projects with practical support and advice from technical, financial, and gender equality and social inclusion experts. This will help increase the chances of these projects securing investment and also support Egypt to develop a sustainable pipeline of bankable, low-carbon projects.

Also read: UNDP and Japan to implement solar power stations in Rural Egypt

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