Egypt signed a €53.8m concessional financing and grant agreement with the French Development Agency (AFD) and the European Investment Bank (EIB) to support its Sustainable Green Industries (GSI) programme, which promotes greener industrial production, reduces emissions, and enhances competitiveness, the Planning Ministry said on Sunday. Planning and International Cooperation Minister Rania Al-Mashat signed the financing agreement with French Ambassador Eric Chevallier and AFD Vice President Jérôme Touran during a high-level event showcasing the programme to industrial stakeholders and international partners. In addition, a separate €8.8m EU-funded technical assistance agreement, managed by the EIB, was signed between the Egyptian Environmental Affairs Agency and the EIB's regional centre, with attendance from Industrial Development Deputy Prime Minister and Minister of Industry and Transport Kamel Al-Wazir, Local Development Minister Manal Awad, and EU representatives. Al-Mashat described the agreement as a significant step in development cooperation with European partners, reflecting international confidence in Egypt's ability to transition toward more sustainable production models. She noted that the broader GSI financing package totals €271m, including a €30m EU grant, €135m in concessional finance from the EIB, and €45m from AFD. Local Development Minister Manal Awad said the programme will help industrial facilities comply with environmental regulations, reduce pollution and carbon emissions, expand renewable energy and energy-efficiency projects, and advance waste recycling initiatives. She added that GSI also aims to improve resource efficiency, lower production costs, and enhance export readiness—particularly for European markets—by supporting industries in adopting cleaner technologies and meeting global environmental standards. French Ambassador Chevallier said the programme underscores France's and "Team Europe's" commitment to supporting Egypt's transition to a cleaner, more competitive industrial sector. The EIB's regional head described the initiative as a reflection of Egypt's commitment to a "greener and more competitive future." The EU Deputy Ambassador in Cairo emphasised that addressing climate change and pollution requires collective action, affirming the EU's ongoing support for Egyptian industries in adopting sustainable practices.
