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Egypt Acting to Transform to Green Economy, Says Minister

Egypt Acting to Transform to Green Economy, Says Minister

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CAIRO : Egypt has taken many steps to transform to green economy, the international cooperation minister said Tuesday.

An ambitious plan has been outlined to implement 691 environment-friendly projects in the fields of energy, renewable energy, water and transport, Rania el Mashaat told MENA.

Mashaat said that her Ministry acts to seal deals through international partnerships for the economy to go green.

She cited the Benban Solar Park as a unique example of cooperation among the different parties concerned.

Both the government and private sector have, with the help of international financing institutions, contributed to implementing the biggest solar park that has six million panels installed over an area of 36 square kilometers, the minister said.

She added that more than 40 companies from 12 countries took part in implementing that venture meant to generate 1,500 megawatts of energy.

The project is meant to promote Egypt’s sustainable energy strategy and it reflects the government’s strong commitment to transform to green economy.

Mashaat said the International Cooperation Ministry also secured development funds to establish the Mahsama plant in Sinai, noting that it is one of the biggest agricultural wastewater treatment stations in the world and should help irrigate 70,000 feddans using one million cubic meters of water daily.

This project is also meant to create thousands of jobs for youth and enhance societal development, she added.

The government is seeking to encourage the private sector to contribute to development efforts through international partnerships, the minister made it clear.

Going green is a key indicator of economic recovery, Mashaat said, adding this approach helps create a more-sustainable and less-polluted environment and ensures a resilient economy that could cope with external shocks and changes.

Egypt was first to issue green bonds, worth $750 million, in the Middle East and North Africa region, the minister stated, noting that those are used to bankroll environment-friendly ventures.

Source: egypttoday
Anand Gupta Editor - EQ Int'l Media Network