Egypt targets a 50% increase in the green investment share in its Fiscal Year 2024/2025 investment plan, according to the Minister of Planning and Economic Development Hala El-Said.
This came in a speech delivered on El-Said’s behalf by Heba Shaheen, Executive Director of the Egyptian Initiative for Business Climate Reform "Irada," during a conference on empowering businesses for green economic development.
She added that as part of its Vision for 2030, the Egyptian State believes in the vital role of green investments for promoting inclusive growth, creating more jobs, and ensuring environmental sustainability
According to the speech, the Sovereign Fund of Egypt (TSFE) is working for luring green infrastructure investments.
The speech highlighted that as part of a structural reform program, the government took several important steps to create an environment conducive to green investments by rolling out more incentives for the private sector.
Furthermore, she added that the government gives a high priority to public-private partnerships through the three-year old Fund, established as a reliable mechanism to unlock assets for private investors to become investment partners with the government.