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TunisiaEIB announces new support for Egypt’s own green transition
The European Investment Bank (EIB) and the EIB Group as a whole has been working closely with the Egyptian Presidency of COP27 to offer its support both as chair of the world’s Multilateral Banks and to do its part to make sure that this COP is – as the Egyptian Presidency put it – a COP of implementation.
The COP27 offered an opportunity for the EIB to cement cooperation and joint projects, including newly announced cooperation with Egypt in financing the Nexus on Food, Water and Energy (NWFE) programme pillars. As well as this the European Investment Fund – part of the EIB Group – announced new financing aimed at supporting EUR 2.5 billion of climate action investment.
At COP27, the EIB, declared its support for new investments in several sectors namely energy, transport, water and agriculture adaptation, signing a number of partnership agreements and letters of intent with the government of Egypt to finance projects of the National Platform for Green Projects – the NWFE programme.
At COP, to the EIB confirmed its intention to support Egypt’s green and sustainable transition, while also contributing to the country’s resilience to climate change over the period 2022-2030, including renewable energy projects, transport projects, water and food security projects.
Countries covered:
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Egypt
