Egypt’s economic growth and expanding urban population are contributing to fast rising greenhouse gas emissions. Its fossil fuel-based power and transport sectors are among the most carbon intensive, and are at the center of Egypt’s commitment to increase use of low carbon technologies and renewable resources.
Source: World Bank
Egypt’s CTF investment plan is tapping $300 million in concessional financing to develop the country’s tremendous wind energy potential and to facilitate a modal shift to low carbon mass transport in Cairo. This includes funding for new bus and rail infrastructure in
Cairo and construction of a 200 MW wind farm on the Gulf of Suez. It is the first public private partnership of its kind and will serve as a model for future large scale development of Egypt’s wind resources.
The government is targeting 20% electricity generation from renewable resources by 2020
|NAME||FUND||FUNDING (USD MILLION)||COFINANCING (USD MILLION)||MDB|
|Egypt Kom Ombo CSP||FUNDClean Technology Fund||COFINANCING (USD MILLION)||FUNDING (USD MILLION)||MDBAFDB|
|Wind Power Development Project||FUNDClean Technology Fund||COFINANCING (USD MILLION) 150||FUNDING (USD MILLION) 654||MDBIBRD|
The CIF programmatic approach to investment planning and implementation brings strategic value to CIF recipient countries. Working through a transparent, country-led process, the CIF fosters trust and collaboration among government ministries, civil society, indigenous peoples, private sector, and the MDBs that implement CIF funding. Together they translate Nationally Determined Contributions and other national development and climate strategies into an actionable CIF investment plan. Rather than one-off projects, the plan comprises long-term, sequenced investments that mutually reinforce each other and link to other critical activities, such as policy and regulatory reform and capacity building. Under national government leadership, CIF stakeholders continue to work together to implement the plan, continually assessing progress and sharing lessons learned along the way.