House of Representatives Approves Increasing Egypt-US Assistance Grant to $20.5 MlnSource: www.export-egypt.com 10/8/2024, Location: Africa |
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The House of Representatives approved increasing the assistance grant agreement between Egypt and the United States of America (US) regarding the climate change initiative by $5.5 million to reach $20.5 million, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat announced.
This grant will be provided through the US Agency for International Development. The funded activities under this agreement will focus on collaborative efforts with various governmental ministries and stakeholders, address key areas, such as the Red Sea Initiative and climate finance mechanisms, and enhance clean energy initiatives. The activities also include clean energy initiatives, with the US Agency for International Development supporting the Egyptian government’s Nexus of Water, Food, and Energy (NWFE) programme by providing technical assistance for the country’s plans in this area and promoting a rapid transition to clean energy and de-carbonization of the Egyptian energy sector. Valued approvals According to the Egyptian Gazette, President Abdel-Fattah El-Sisi approved a grant aid agreement between Egypt and the US regarding the Climate Change Initiative in 2022. The House of Representatives also approved an agreement regarding the Technical Assistance Project for Sludge Management in Egypt, funded by a 2 million euro grant from the European Investment Bank (EIB) for the Ministry of Housing, Utilities, and Urban Communities. Al-Mashat emphasized that this project aligns with the UN Sustainable Development Goals (SDGs) related to energy, climate adaptation, and promoting sustainable green energy sources. She added that the EIB has been one of Egypt’s largest multilateral development partners over the past four years, supporting several developmental projects across vital economic sectors and facilitating investments and funding for the private sector through innovative tools. |
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