Dr. Mohamed Maait, Minister of Finance, affirmed the contribution of the newly-presented sustainable sovereign financing project’s significant role in enhancing the green recovery’s ability to reach sustainable and broad development, in line with the state’s efforts to promote eco-friendly investments.
The minister proceeded to praise the collective effort of representatives of 12 ministries and their successful launching of the Sustainable Financing Framework.
Maait stated that Egypt 2030” vision is the basic strategy for achieving sustainable development, and accords with three main pillars, including environmental, social and economic.
He also indicated that the project’s team finished the needed technical data to add new categories of green projects with a social dimension within the country’s sustainable portfolio.
Subsequently, this increases the likelihood of issuing green, social, sustainable, and blue bonds, as well as bonds related to empowering women, supporting Egypt’s aspiring vision for 2030, the National Climate Change Strategy 2050, and the National Programs for Structural Reform.
The Government aims to achieve green projects, such as the desalination of seawater, the manufacture of electric vehicles or ones equipped with natural gas, green hydrogen, or solar energy, and the generation of energy from wind to elevate Egypt’s competitiveness in the environmental performance index by increasing the proportion of government-funded green public investments to 50% by 2025.
