Arab Finance: Egypt and the European Union (EU) have signed a European Green Facility agreement worth €7 million to support Egypt’s green transition and water resources sustainability, as per an official statement.

The agreement was signed by the Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and the EU Ambassador to Egypt Christian Berger on the sidelines of the seventh edition of Cairo Water Week.

The signing comes as part of the Team Europe Initiative.

The funds will be allocated to the Ministries of Water Resources and Irrigation, Agriculture and Land Reclamation, and Housing, Utilities, and Urban Communities.

The agreement also aims to boost collaboration between the public and private sectors in water and green transition sectors.

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