Investments in green transportation, such as metro network expansion and electric-powered transport systems, have already reached EGP 115 billion in 2023/2024
Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, addressed Egypt’s progress in green investments and sustainable infrastructure during a parliamentary session with the Budget and Planning Committee. The discussion focused on the implementation of the 2023/2024 economic and social development plan, future projections, and the state of economic authorities.
Al-Mashat emphasized the government’s commitment to integrating environmental sustainability into its development strategy. This initiative reflects Egypt’s push towards a green economy, with green projects comprising 50% of public investments in the 2024/2025 fiscal year, up from 15% in 2020/2021.
Investments in green transportation, such as metro network expansion and electric-powered transport systems, have already reached EGP 115 billion in 2023/2024, addressing climate change mitigation and reducing emissions.
In line with Egypt’s National Climate Strategy 2050, the ministry introduced the “NWFE” program, a strategic framework designed to drive climate adaptation and transition to a green economy. This initiative integrates efforts across the energy, water, and food sectors, supporting sustainable development through partnerships with multilateral and bilateral development partners.
The program has mobilized concessional financing to support clean energy projects, enabling the private sector to implement renewable energy projects with a capacity of 4.2 GW and attracting international funding.
Since 2020, the ministry has facilitated $14.5 billion in development financing for the private sector from international development partners. These funds support diverse sectors, including banking, logistics, energy, and green transition projects. To further encourage investment in renewable energy, the government allocated an additional EGP 7.6 billion to enhance infrastructure for energy transmission and distribution, ensuring integration of renewable sources into the national grid. Under the NWFE program, private companies received $3.9 billion in concessional financing for renewable energy projects, signaling the success of structural reforms aimed at attracting private investments.
The minister highlighted key collaborations with international partners to support infrastructure development, local industry, and human capital growth. Development partners have also contributed to sustainable environmental projects, including renewable energy and water resource management, helping Egypt reduce its carbon emissions and enhance resilience to climate challenges. The government launched the “Hafiz” platform to provide financial and technical support to the private sector, facilitating access to development finance and advisory services.
Al-Mashat also stressed the government’s focus on entrepreneurship as a driver of economic growth and job creation. The Ministerial Group for Entrepreneurship has been working to strengthen the startup ecosystem, focusing on policy and legislative frameworks, coordination between initiatives, and connecting startups with sector-specific challenges. The group has initiated the development of a unified charter for Egypt’s startup ecosystem, aiming to define common standards and implement short-term measures to retain and grow entrepreneurial ventures.
As part of these efforts, the government continues to prioritize innovation and sustainable growth, leveraging public-private partnerships and international collaborations to achieve its long-term development goals. Al-Mashat reiterated the ministry’s commitment to fostering a competitive, knowledge-based economy that aligns with Egypt’s Vision 2030.
