Arab Finance: Egypt has signed a €45 million financing agreement for the Sustainable Green Industry (GSI) Project, a program aimed at supporting the country's transition toward a green economy, enhancing environmental sustainability, and improving the competitiveness of the industrial sector, as per a statement by to the Ministry of Local Development and Environment.

The project is expected to contribute to reducing emissions, creating green jobs, and expanding opportunities for sustainable investment.

The ministry said the GSI program forms part of the Egyptian government's efforts to accelerate the transition to a green economy by supporting factories and companies in adopting more sustainable and resource-efficient production practices.

Commenting on the initiative, Manal Awad, Minister of Local Development, stated that the program represents a key step in supporting the transformation of Egypt's industrial sector toward more sustainable and competitive production models.

She noted that the program was launched as part of the government's sustainable development agenda and will continue through 2030 in cooperation with international development partners, including the European Union (EU), the European Investment Bank (EIB), and the French Development Agency (AFD).

Awad added that the program aims to reduce industrial emissions and pollution, improve the efficiency of energy, water, and raw material use, and help industrial facilities comply with environmental requirements. It also seeks to strengthen the ability of Egyptian products to access international markets, where environmental sustainability standards are becoming increasingly important.

As part of these efforts, the GSI program provides a package of technical and financial support for industrial projects, including accessible financing for environmental initiatives that reduce carbon emissions and improve resource efficiency. The program also supports projects related to energy conservation, the circular economy, renewable energy, and green hydrogen.

The initiative further includes technical and institutional support for the Egyptian Environmental Affairs Agency through capacity-building measures, human resource development, and the digitization of environmental impact assessment procedures. These efforts are intended to improve services provided to investors and advance digital transformation within the environmental sector.

Awad noted that the Sustainable Green Industry Program builds on the achievements of the Industrial Pollution Control Program and reflects ongoing government efforts to strengthen environmental compliance across Egyptian industry while supporting economic growth.

he added that investment in green industries is essential to building a more resilient economy, creating employment opportunities, improving resource efficiency, and supporting the country's sustainable development objectives.