- Egypt was selected from 26 applicants to join six other countries in the CIF’s $1bn Industrial Decarbonisation Program.
- Egypt will develop investment plans to scale up technologies like green hydrogen and low-carbon processes.
Egypt has secured a spot among just seven countries chosen to benefit from the Climate Investment Funds’ (CIF) $1 billion Industrial Decarbonisation Program, a first-of-its-kind initiative to slash emissions in developing nations’ industrial sectors.
Rania Al-Mashat, Egypt’s Minister of Planning, Economic Development, and International Cooperation, announced the milestone, highlighting that Egypt stood out from a pool of 26 applicants. She also said this selection reflects growing international confidence in Egypt’s climate policies and shifting toward a green economy.
The programme was launched under CIF’s Clean Technology Fund (CTF). It focuses exclusively on industrial decarbonisation in emerging markets. The initiative will also support Egypt, Brazil, Mexico, Namibia, South Africa, Turkey, and Uzbekistan.
Al-Mashat explained that Egypt submitted its proposal in partnership with leading global financial institutions, including the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Finance Corporation (IFC), and the African Development Bank (AfDB). The proposal emphasised Egypt’s institutional readiness, the private sector’s active role, and the country’s progress in green finance.
“This recognition confirms global trust in our development model,” Al-Mashat said. “We are scaling up our institutional capabilities and reforming investment policies to promote environmental sustainability and economic competitiveness.”
Meanwhile, CIF confirmed that an independent evaluation selected the seven countries based on their potential to transition to low-emission industrial systems. The programme aims to stimulate green job creation and position recipient countries to tap into the growing market for sustainable goods, expected to hit $2 trillion by 2030.
Al-Mashat also credited the momentum from Egypt’s COP27 presidency in 2022, during which the country launched the “NWFE” (Nexus of Water, Food, and Energy) platform. She noted that this initiative remains a global model for mobilising climate investment through government, donor, and private sector partnerships.
This latest recognition builds on Egypt’s earlier success at COP27. CIF ranked first in North Africa and Europe under its Nature, People, and Climate Investment program, a $500 million fund supporting climate-smart agriculture, coastal restoration, and inclusive green development. Ongoing talks aim to align that funding with the NWFE platform.
Furthermore, CIF CEO Tariye Gbadegesin stressed the urgency of decarbonising industry in developing economies. “The race to decarbonise the global industrial sector has begun, and emerging markets are leading,” she said. “This isn’t only about reducing emissions; it’s about creating jobs and producing the materials that will power the global low-carbon economy.”
Next, Egypt and the other selected countries will develop investment plans in partnership with multilateral development banks and private sector players. Once approved by the CIF board, these plans will unlock highly concessional financing to scale up technologies such as green hydrogen and low-carbon industrial processes.
The $9 billion Clean Technology Fund powers this effort through an innovative mechanism that reportedly attracts $12 in additional private capital for every $1 invested, cementing its role as a catalyst for large-scale climate solutions.