- European Union will support Egypt by providing development grants worth €35 million. The grant to be channelised through the European Bank for Reconstruction and Development, will support the National Platform for Green Projects Program “NWFE.
Minister of International Cooperation of Egypt, Rania Al-Mashat signed a letter of intent with the European Union on November 16 th during the COP27. Under the letter of intent, the European Union will support Egypt by providing development grants worth €35 million. The grant to be channelized through the European Bank for Reconstruction and Development will support the National Platform for Green Projects Program “NWFE. The objective is to support the country’s transition to a green economy by promoting investment in renewable energy and electricity generation, improving energy efficiency and low-carbon development.
Also read;
https://trendsnafrica.com/egypt-signs-mou-with-honeywell/
https://trendsnafrica.com/egypt-can-be-transit-for-renewable-energy-projects-in-africa/
To promote investment in renewable energy, another MOU was signed with the European Union and the European Bank for Reconstruction and Development, on the “Mediterranean Hydrogen Partnership”. The MOU is expected to play a vital role in limiting the use of traditional sources of pollution. Some of the other projects under implementation include promoting reforms in the renewable energy and water sector through capacity-building, the Energy transformation project, and the Suez Bay wind farm to generate 250 megawatts of electricity, etc. The Minister revealed that “The NWFE” program is being implemented across the country and also promotes the efficiency of the exploitation of Egypt’s natural resources, including wind power in the Gulf of Suez, the Red Sea coast and Upper Egypt.
