Egypt, located in the northeastern corner of Africa, has a total land area of 995,450 square kilometers (sq km). It is bordered by Sudan, Palestine, Israel, Libya, the Mediterranean Sea, and the Red Sea. Egypt is vulnerable to heavy rains that often result in flash floods. Dust storms are also common, frequently spanning hundreds of kilometers. Its Nile Delta and coastal front on the Mediterranean are vulnerable to shoreline changes due to erosion and accretion, subsidence, and sea-level rises due to climate change.
INVESTING IN EGYPT
CIF’s investment in Egypt is through its Clean Technology Fund (CTF). Egypt’s $182-million CTF investment plan aims to develop the country’s tremendous wind energy potential and facilitate a modal shift to low-carbon mass transport in Cairo. This includes funding for the new bus and rail infrastructure in Cairo and the construction of a 200-megawatt 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 developments of Egypt’s wind resources.
Through the CIF-TAF, approximately $200,000 was programmed for technical assistance activities in 2021. The program covers activites that aim to support the national green recovery in the aftermath of Covid-19 through development of climate-smart policies.
In 2022, Egypt was selected as one of the first countries to participate in the Nature, People, and Climate (NPC) investment program. Egypt is seeking finance to support a wide range of initiatives, to promote sustainable agriculture along the Nile River.
