The European Union (EU) is providing Egypt with a EUR 4 million grant to encourage environmental protection. The grant comes after Egyptian Minister of Environment, Yasmine Fouad, signed a joint cooperation agreement with the EU ahead of the UN Climate Change Conference (COP 27) in Sharm El-Sheikh in November 2022 .
In an official statement, issued on 7 August, Fouad explained that this grant is part of third phase funding of the Environmental Pollution Abatement Project (EPAP), with a total budget of EUR 145 billion.
“EPAP aims to provide financial incentives to industrial facilities to help them transition to a green economy, reduce carbon emissions, and mitigate the impact of climate change,” Fouad asserted.
EPAP is among the Ministry of Environment’s largest and most important initiatives that aim to foster sustainable development by subduing energy and resource consumption as well as strengthening industrial facilities’ performance.
Fouad asserted that all the different industrial facilities could benefit from the EU grant. The EPAP participants will achieve a number of outcomes, such as reducing carbon emissions, achieving financial savings, and enhancing productivity and competency nationwide.
Egypt and the EU have cooperated in the run-up to COP27, with the aim of strengthening international partnerships and spurring sustainable economic growth through development financing. Egypt has been in preparation mode for COP27, with a four-axis plan and investment in sustainable nationwide mega projects. In addition, the Egyptian Prime Minister Mostafa Madbouly launched the National Strategy for Climate Change 2050 in May, which aims to better citizens’ quality of life, improve sustainable development growth, and preserve natural resources.
Subscribe to the Egyptian Streets’ weekly newsletter! Catch up on the latest news, arts & culture headlines, exclusive features and more stories that matter, delivered straight to your inbox by clicking here.