Egypt selected among 7 countries for CIF's $1B Industrial Emissions Reduction Program
Updated 6/15/2025 1:36:00 AM
Arab Finance: Egypt has been selected as one of only seven countries to benefit from the Climate Investment Fund’s (CIF) Industrial Emissions Reduction Program, as per a statement by the Egyptian Ministry of Planning and Economic Development and International Cooperation.
This global initiative, worth $1 billion, aims to support the transition to low-emission industrial systems in developing countries.
Out of 26 countries that applied, Egypt was chosen based on an independent expert panel assessment.
The program is part of the CIF’s $9 billion Clean Technology Fund (CTF) and represents the first global concessional financing initiative dedicated to industrial decarbonization.
Minister of Planning and Economic Development and International Cooperation Rania Al-Mashat stated that Egypt’s selection reflects international confidence in the country’s climate action strategies and green transformation efforts.
She noted that the bid was submitted in cooperation with the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Finance Corporation (IFC), and the African Development Bank (AfDB), and was based on Egypt’s institutional capabilities and active engagement with both local and foreign private sector partners.
The program aims to help participating countries, namely Egypt, Brazil, Mexico, Namibia, South Africa, Türkiye, and Uzbekistan, access concessional financing, promote clean technologies such as green hydrogen, and create green jobs.
It also positions them to capitalize on the growing global market for climate-friendly goods, projected to reach $2 trillion by 2030.
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