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Egypt’s gov’t explores funding sources for waste-to-energy systems

Egypt’s gov’t explores funding sources for waste-to-energy systems
Ongoing agreements with partners for environmental projects reached $238.2 million

Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, held a meeting with the Minister of Environment, Yasmine Fouad, and the Minister of Local Development, Mahmoud Shaarawy, to discuss international sources of finance for developing waste treatment facilities using waste-to-energy (WTE) technology.

This is considered to be the first meeting to be held to discuss international financing for WTE technologies, which comes within the state’s plan to reduce environmental pollution and improve public health, according to a statement on Tuesday.

This will help sustainably manage Egypt’s solid waste system, provide an alternative clean energy source, and boost the economy by providing job opportunities and increasing employment,” El-Mashat said.

During the meeting, El-Mashat called for another meeting within the ‘Global Partnerships for Effective Development’ multi-stakeholder platform between the multilateral and bilateral development partners, which will include the participation of the ministries of environment and local development and all development partners, to present details of the new waste management system and find the best funding opportunities from development partners.

This comes within the Ministry of International Cooperation’s commitment to accelerate progress in achieving the sustainable development goals (SDGs) through three pillars: people at the core, projects in action, and purpose as the driver.

For the third pillar, purpose is identified as a key driver to generate sustained and inclusive growth and to set clear targets to monitor and assess, with the purpose being the seventh goal for clean and affordable energy and increasing renewable energy capacity to 42% by 2035, according to the 2030 National Agenda.

The volume of ongoing agreements with multilateral and bilateral development partners for environmental projects is about $238.2 million, in four projects, from a number of development partners, most notably Italy, the World Bank, the French Development Agency (AFD), the European Investment Bank (EIB), Germany, and the European Union (EU).