IFC official: Green economy is part of Egypt’s economic growth

14 / 06 / 2021

By Marwa Nassar - -

International Finance Corporation (IFC) Country Manager in Egypt, Yemen and Libya Walid Labadi said the green economy is part of the economic growth story in Egypt.

Labadi said Egypt is in a position where it can move ahead, it does not have to progress in the same way that industrialized countries are adopting to be part of the green economy.

The IFC official made the remarks on Monday during the third edition of the Forum on Strategies for Transition to Green Economy which is organized by CSR Egypt under the patronage of Prime Minister Moustafa Madbouli.

He noted that there are many opportunities available to invest in green economy.

He highlighted that companies can make money by adopting circular economy, underlining the importance of spreading awareness in this respect.

“We are partnering with the Central Bank of Egypt and the Financial Regulatory Authority to promote the green economy. We are going to set targets collectively with government institutions” under which those banks would work on financing green economy.

This will help realizing economic growth and creating job opportunities, he added.