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International Cooperation announces the signing of green financing of $2.24 billion in transportation, food security, environment, housing and electricity

• 1.3 billion dollars for the transportation sector to implement projects to rehabilitate the first and second lines of the metro, develop the Abu Qir railway in Alexandria, and develop a trade logistics line between Cairo and Alexandria

• 194 million dollars to establish 4 desalination plants in South Sinai and implement the Nile Delta management program and the drinking water management program in Upper Egypt

• Development funds in the energy and electricity sector worth 93 million dollars to develop the green hydrogen sector and promote green growth

• $929 million to stimulate the country’s efforts in the field of food security, enhance resilience against global changes and achieve rural development

• A grant of $15 million for the environment sector under the Climate Initiative Agreement

The Ministry of International Cooperation announced the signing of soft development funds worth $2.24 billion to implement a number of development projects and develop sustainable infrastructure that stimulate the participation of the private sector, with a number of development partners in the sectors of transportation, housing, electricity, renewable energy, food security, and the environment, in the pavilion. Al-Masry attended the COP27 Climate Conference, in light of the efforts of multilateral cooperation to support the country’s development vision and promote the transition to a green economy.

The signatures announced today, and witnessed by Prime Minister Mostafa Madbouly, come within the framework of the distinguished relations enjoyed by the Arab Republic of Egypt with multilateral and bilateral development partners, and joint efforts in terms of supporting the state’s development plans, and in continuation of the close interdependence between climate and development efforts The signatures varied between transportation, water resources, electricity, energy, and food security.

The agreements signed by the government in the transport and infrastructure sector amounted to 4 agreements, the first for a project to rehabilitate and raise the efficiency of the second line of the Greater Cairo metro with development financing worth 279 million dollars, including two million dollars as a grant from the European Bank for Reconstruction and Development, and the second agreement in favor of a project to develop a line The Abu Qir railway in Alexandria and its transformation into an electric metro line, with $278 million in development funding from the French Development Agency.

In addition, $177 million in development funding was signed to implement a project to rehabilitate 23 trains for the first line of the Greater Cairo metro, from Spain, in addition to $400 million in funding for a project to develop a trade logistics line between Cairo and Alexandria in cooperation with the World Bank Group.

With regard to sustainable water resource management projects, which come under the umbrella of the state’s plan to support adaptation efforts and mitigate the consequences of climate change, funding for 3 projects was signed, the first is a $12 million grant from the German Agency for International Cooperation in favor of the Nile Delta Water Management Program project, and the second is a grant With a value of $10 million from Switzerland for the drinking water management project in Upper Egypt (second phase), and the third, $50 million in development funding from the Kuwait Fund for Development to implement a project to construct 4 desalination plants in South Sinai.

In continuation of the country’s efforts to expand renewable energy projects to promote green transformation, reduce harmful emissions and increase the proportion of renewable energy in the total energy generated in implementation of the National Sustainable Energy Strategy 2035, development funds were signed for two projects, the first being development financing of $92 million from the African Development Bank for the Electricity and Growth Support Program Green, and a $1 million grant from the French Development Agency for strategic technical cooperation between Egypt and France to develop the green hydrogen sector.

In the food security sector, the Egyptian government signed 4 development financing agreements, the first with a value of $500 million with the World Bank Group, within the framework of the emergency project to support food security and flexible response, which supports the state’s plan to expand wheat storage silos and enhance food security, and the second agreement worth 271 $11 million from the African Development Bank Group to support food security efforts, in addition to $111 million in development financing from the European Union under the Food Facility Initiative, and $47 million in development funding with the U.S. Agency for International Development for the Agribusiness Agreement Project for Rural Development and Income Increase. In the environment sector, a grant of $15 million was signed with the US Agency for International Development in the framework of the Climate Initiative agreement.

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