By Faridat Salifu
Egypt has been selected as one of seven countries to benefit from the Climate Investment Funds’ (CIF) new $1 billion Industrial Decarbonisation Programme, aimed at accelerating low-emission manufacturing in developing economies.
The announcement was made recently by Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, who said the country’s selection reflects growing international recognition of Egypt’s climate policies and green economic reforms.
Chosen from a pool of 26 applicants, Egypt joins Brazil, Mexico, Namibia, South Africa, Turkey, and Uzbekistan as recipients of support under the programme. The initiative is the first of its kind to offer development finance specifically targeting industrial emissions in emerging markets.
Al-Mashat credited Egypt’s inclusion to its institutional readiness and collaborative climate financing framework, noting that the government submitted its proposal with the backing of several multilateral 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 Industrial Decarbonisation Programme is part of the CIF’s broader $9 billion Clean Technology Fund (CTF), which mobilizes private investment to scale clean industrial technologies. CIF data shows that every dollar invested through the fund generates an additional $12 in financing from other sources.
According to the CIF, selected countries will now work with development finance institutions and private sector partners to craft detailed investment plans. These will outline how countries intend to deploy clean technologies such as green hydrogen and access concessional funding.
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Tariye Gbadegesine, CEO of the CIF, said industrial decarbonization is becoming a key pillar of sustainable development.
“Decarbonizing industry is not just about cutting emissions it’s about ensuring long-term prosperity and creating future-proof jobs,” she said, adding that emerging economies will play a central role in supplying low-carbon materials needed to drive global clean energy growth.
Egypt’s commitment to climate finance and green investment has gained momentum since it hosted the COP27 climate summit in Sharm El-Sheikh in 2022.
During the conference, Egypt launched the NWFE platform (Nexus of Water, Food and Energy), a government-led initiative designed to attract coordinated investments across climate-sensitive sectors.
Al-Mashat confirmed that Egypt is currently in discussions with CIF to channel additional support through its Nature, People and Climate Investment programme
an initiative that provides $500 million for nature-based projects in developing countries. Egypt ranked first in the North Africa and Europe region under this CIF programme during COP27.
The ministry emphasized that Egypt’s current climate efforts are focused on aligning national development strategies with international emissions reduction goals, while creating opportunities for private investment in sustainable technologies.
