World Bank intends to back Egypt’s renewables

Updated 2/19/2024 10:03:00 PM
World Bank intends to back Egypt’s renewables

Arab Finance: The World Bank Group (WBG) is showing interest in financing new and renewable energies, notably green hydrogen, in Egypt, the WBG’s Vice President for Infrastructure Guangzhe Chen stated during his meeting with Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla.

On the sidelines of the Egypt Energy Show (EGYPES 2024), Chen asserted the bank's support for the Eastern Mediterranean Gas Forum and the pursuit of regional cooperation.

He also expressed his delight in partnering with Egypt across multiple sectors.

Meanwhile, El-Molla stressed the pivotal importance of the ongoing fruitful cooperation with the WBG, particularly in the field of natural gas distribution to households.

This initiative not only facilitated Egypt's transition to cleaner cooking experience but also sets a precedent for future endeavors, such as converting vehicles to run on natural gas as well as hydrogen production.

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