IFC acknowledges Grand Egyptian Museum as 1st EDGE Advanced Green Building in MEA
Updated 2/20/2024 7:16:00 AM
Arab Finance: The Grand Egyptian Museum (GEM) has been awarded the EDGE Advanced Green Building Certification by the International Finance Corporation (IFC), as per a statement.
Hence, the GEM becomes the first recipient of this certificate in the Middle East and Africa (MEA), joining a select group of globally acclaimed institutions.
Backed by Switzerland's State Secretariat for Economic Affairs (SECO) and the UK Government, the EDGE Advanced certification underscores the GEM's commitment to environmentally conscious practices in its design and construction.
Notably, the museum's adoption of resource-efficient and climate-smart technologies has resulted in saving energy costs by over 60% and reducing water usage by 34%, compared to conventional buildings of similar stature.
Spanning an expansive site area of 500,000 square meters, the GEM has implemented a suite of sustainable measures, including a reflective roof, external shading for optimal thermal comfort, and the integration of resource-efficient lighting and water fixtures.
These initiatives yield tangible benefits, with energy savings tantamount to removing over 400 gasoline-powered vehicles from the bustling streets of Cairo annually, and water conservation measures equating to 63.4 million liters of Nile River water preserved each year.
Since the beginning of its operations in Egypt, IFC has been instrumental in driving investments and mobilizing approximately $8 billion in various sectors.
With a robust advisory portfolio totaling $26.8 million, IFC's support spans key domains such as fintech, climate finance, manufacturing, infrastructure, renewable energy, healthcare, gender equality, and beyond.
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