Egypt’s EGGSP reform programme seeks to promote a sustainable, competitive and diversified electricity sector that ensures secure energy supply and supports climate change mitigation and green growth.
“Accelerated deployment of the EGGSP reform programme is instrumental to meet energy needs, combat climate change and promote sustainable development in Egypt,” said minister of international cooperation, Dr Rania Al Mashat.
Dr Rania Al Mashat noted that the EGGSP multi-partner programme provides a model for effective coordination among development partners as the country continues to collaborate with all development partners to promote for a green recovery
Dr. Mohamed Shaker, Egypt’s minister of electricity and renewable energy, noted that the EGGSP aims to improve the security of energy supply by increasing the share of renewable energy and improving the financial sustainability of the enery sector.
This progress, however, is threatened by the impact of COVID-19 on the different economic sectors, including the power sector, and on the vulnerable.
AfDB’s Deputy Director General for the North Africa Region, Mr. Yacine Fal explained that the financing provided under the EGGSP support will buttress measures being taken by the government of Egypt to combat the pandemic and to protect the most vulnerable during these difficult times.
Mr. Yacine Fal further noted that the AfDB funds will also help stimulate new private investments in the energy sector and increase the deployment of clean energy in line with Egypt’s targets for green growth.