Technical assistance for improving energy efficiency and renewable energy investments in Egypt
As the population and economic performance of Egypt increases, its energy and power demands have quickly followed suit. Though plentiful in natural resources, the country has been unable to fully leverage these to meet their power demands, resulting in numerous blackouts and a decrease in exports.
To address this challenge, the European Bank for Reconstruction and Development (EBRD), in cooperation with the Agence Française de Développement (AFD) and the European Investment Bank (EIB), launched the Green Economy Financing Facility (GEFF). This €140 million debt and technical assistance facility will harness Egypt’s domestic energy creation potential through investments in energy efficency projects. Though up against the backlash of low mandated energy prices and water scarcity due to climate change, the EBRD aims to accomplish their ambition to provide sustainable and renewable energy across the country by establishing credit lines for financial institutions to help fund projects that have been qualified as capable of contributing to this ambition.
In our role as project consultant, we support the implimentation of the facility by evaluating proposals and sharing knowledge on best practices and necessary skills with local banks.
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