Ashraf AboArafe
31 May 2023, CAIRO – The Climate Finance Accelerator (CFA) Egypt, funded by the UK Government, held a graduation event for the cohort of projects that successfully completed the CFA cycle.
The event, hosted at the British Embassy, allowed the projects to present their proposals to Egyptian and international investors before receiving advice and feedback on how to strengthen their proposals further.
The event enabled the financiers to have a detailed insight into some of the high quality projects that are helping to tackle the climate emergency in Egypt. It is hoped that connections formed at the event will ultimately lead to investment for the CFA projects.
British Ambassador to Egypt, Gareth Bayley, said: “It has been fantastic to meet the CFA projects at the end of their journey and to hear how the programme, funded by the UK government, has helped them to develop their offer and move closer to finding investment. Each project has the potential to benefit communities across Egypt and support Egypt’s green transformation journey.”
The CFA projects have received months of tailored support including individual needs assessment discussions and analysis from a financial, technical and gender equality and social inclusion perspective to ensure they are in the best position to attract investment.
Egyptian Minister of International Cooperation Dr Rania Mashat shared her words with attendees with a video intervention. She said:
“Today we are celebrating the first selected projects across agriculture, economy, waste and manufacturing sectors, that have benefited from technical assistance as well as capacity building provided by the CFA international and local consultants. Congratulations to the selected projects. I look forward to the selection of more projects in this framework as I’m confident that with the continuous cooperation between Egypt and the UK and bilateral and multilateral development banks as well as public and private banks and the private sector, we can make strides in our common goals on the global climate agenda.”
The CFA is part of the UK Government’s efforts to support Egypt in its green transformation, meet the priorities set out in its Nationally Determined Contribution under the Paris Agreement, and to assist the green finance and climate finance landscape in Egypt.
