In a boost for the green transition in the Middle East and North Africa, the European Commission, Kreditanstalt für Wiederaufbau (KfW) and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH signed a joint guarantee agreement worth €300 million to facilitate the green transformation of urban areas and support the development of green hydrogen market in this region. The guarantee is funded by the European Fund for Sustainable Development Plus (EFSD+). The guarantee will enhance KfW’s and DEG`s capacity to foster sustainable urban development and advance innovative energy solutions. This includes projects to improve energy efficiency, promote renewable energy sources, and enhance the overall resilience of urban infrastructure. It will also promote investments in green hydrogen production, storage and distribution. This initiative addressed important needs in the Middle East and North Africa and aims to deliver on EU’s strategic priorities, including the Global Gateway and the European Green Deal.

In a boost for the green transition in the Middle East and North Africa, the European Commission, Kreditanstalt für Wiederaufbau (KfW) and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH signed a joint guarantee agreement worth €300 million to facilitate the green transformation of urban areas and support the development of green hydrogen market in this region. The guarantee is funded by the European Fund for Sustainable Development Plus (EFSD+) The guarantee will enhance KfW’s and DEG`s capacity to foster sustainable urban development and advance innovative energy solutions. This includes projects to improve energy efficiency, promote renewable energy sources, and enhance the overall resilience of urban infrastructure. It will also promote investments in green hydrogen production, storage and distribution. This initiative addressed important needs in the Middle East and North Africa and aims to deliver on EU’s strategic priorities, including the Global Gateway and the European Green Deal.