Egypt One of 7 Nations Tapped for USD 1 Billion Decarbonisation Fund

Egypt has been named one of seven countries selected to participate in a new USD 1 billion programme aimed at reducing industrial emissions in developing nations.

Launched by the Climate Investment Funds (CIF), the Industrial Decarbonisation Programme is the first initiative of its kind to focus specifically on emissions from the industrial sector in lower- and middle-income countries. Egypt was chosen from a group of 26 applicants, along with Brazil, Mexico, Namibia, South Africa, Turkiye, and Uzbekistan.

The decision to include Egypt was seen as an endorsement of the country’s efforts to transition toward a greener economy. CIF cited Egypt’s established institutional framework, its collaboration with development banks, and its engagement with the private sector as key factors behind its successful application. The proposal was prepared in coordination with the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Finance Corporation (IFC), and the African Development Bank (AfDB).

Applications to the Industrial Decarbonisation Programme were reviewed by an independent panel. Countries selected will now begin working with multilateral lenders and private sector partners to prepare national investment plans for CIF board review. These plans are expected to unlock access to concessional funding and emerging technologies, including green hydrogen, in support of long-term industrial transformation.

The programme is part of the CIF’s USD 9 billion Clean Technology Fund, which aims to leverage USD 12 in additional capital for every USD 1 of public funding invested.