Dr. Rania Al-Mashat, Minister of Planning and Economic Development, announced the signing of $2.5 billion in agreements with the European Bank for Reconstruction and Development (EBRD) to finance renewable energy projects in Egypt. These projects, totaling 4.7 gigawatts, will be developed in partnership with the private sector.
The agreements align with Egypt’s goal to generate 42% of its energy from renewable sources by 2030. Mashat emphasized the role of EBRD’s concessional financing in supporting this transition, which will reduce Egypt’s reliance on traditional energy sources, cut carbon emissions, and contribute to sustainable economic growth. The partnership also aims to create new job opportunities and attract both local and international investments to the renewable energy sector.
