Industry Minister Assesses EBRD Initiatives in Sustainable Industry, Renewable Energy, and Water Conservation

Meeting Summary: Egypt’s Minister of Industry and EBRD Officials

Participants:

• Khaled Hashem, Egypt’s Minister of Industry
• Mark Bowman, EBRD Vice President for Policy and Partnerships
• Jacqui Powell, EBRD Managing Director for the Corporate Sector

Key Discussion Points:

1. EBRD Projects in Egypt:

   • Focus on enhancing cooperation in various sectors including:
     • Industry
     • Green economy
     • Water efficiency
     • Support for Small and Medium-sized Enterprises (SMEs)

2. Economic Sustainability:

   • EBRD’s role in fostering a competitive, resilient, and sustainable private sector in Egypt.
   • Emphasis on the importance of industry in economic growth and carbon emissions reduction.

3. Renewable Energy Initiatives:

   • Support for financing low-carbon industrial investments and utilizing emerging technologies.
   • Aimed at increasing Egypt’s renewable energy share to 45% by 2028.

4. Climate Investment Funds (CIF):

   • Egypt selected for up to €250m in concessional financing.
   • Goals include sustainable development and climate resilience through the promotion of private-sector investment.

5. Egypt’s Industrial Strategy:

   • Initiatives like Shams El-Senaa to install solar power in factories.
   • The Solar Energy Transition in the Industrial Sector (SETI) to enhance solar energy deployment and energy efficiency.

6. Water Efficiency:

   • Promoting closed-loop water systems in industries to reduce consumption and attract international investment.

7. Investment Facilitation:

   • Measures introduced to ease investment processes for small industrial investors through rent-to-own land schemes and simplified licensing procedures.

8. Future Collaboration:

   • Interest in developing a financing programme for infrastructure and utilities in underserved industrial zones.

9. EBRD’s Commitment:

   • Recognition of Egypt as a key partner and intent to support industrial competitiveness.
   • Focus on green industrial transformation and resource efficiency to enhance private-sector development.

Conclusion:
The meeting reinforced the strategic partnership between Egypt and the EBRD, aiming at fostering a sustainable industrial environment through collaboration on renewable energy, efficiency, and investment initiatives.