Egypt targets boosting green investments to 50% in FY2024/25: Maait
Updated 10/12/2023 12:02:00 PMArab Finance: The value of Egypt’s total green investments doubled in fiscal year (FY) 2019/2020 to 30%, compared to the previous FY, with the government targeting to bring this percentage up to 50% in the coming FY, Minister of Finance Mohamed Maait said.
Moreover, Egypt is targeting to scale up its renewable power supplies to 42% by 2035, Maait added.
The minister announced that the launch of a new initiative to inject larger sums of green investments into developing countries is underway.
He added that the initiative would also mitigate the debt burden endured by these countries.
This came on the sidelines of the six-day 2023 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) held on October 9th in Marrakech, Morocco.
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