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49% of EBRD’s record investment in Egypt, five other SEMED states was in green economy
- Egypt primary recipient of EBRD investments in SEMED with the bank’s commitment of almost €1.5 bn to 26 out of its 50 new projects in Egypt
About 49% of the European Bank for Reconstruction and Development (EBRD)’s record investment in the southern and eastern Mediterranean (SEMED) region went to green economy in 2024, with 55 percent in the financial sector, 25 percent in the corporate sector and 21 percent in sustainable infrastructure.
Across the six economies of the SEMED region (Egypt, Jordan, Lebanon, Morocco, Tunisia, and the West Bank and Gaza), EBRD posted record investment of more than €2.4 billion in 2024 – up from €2 billion in 2023 – in extremely challenging times.
Nearly 60 percent of all investment in the region included targeted actions aimed at strengthening gender equality, with figures of 75 percent in Jordan, 58 percent in Egypt, 56 percent in Tunisia and 50 percent in Morocco. In addition, 33 percent of all projects across the region had an explicit focus on addressing inequalities and developing human capital.
Egypt was the primary recipient of European Bank for Reconstruction and Development (EBRD) 2024 investment in the SEMED region, with new commitments to 26 projects totaling almost €1.5 billion, of which 98 per cent were in the private sector and 50 per cent in green financing.
The Bank’s cumulative investments in Egypt since the start of its operations in 2012 reached €13.8 billion.
The Bank invested $ 100 million in the inaugural $ 500 million sustainability bond issued by Arab African International Bank (AAIB), paving the way for more such issuances and setting a benchmark for others. Seventy-five percent of the bond’s proceeds will be allocated to green financing to increase industrial energy-efficiency and support small-scale renewable energy projects and green buildings, while 25 percent will be allocated to promoting social goals, through inclusive financing and support for micro, small and medium-sized enterprises.
Under Egypt’s Nexus of Water, Food and Energy (NWFE), the Bank arranged a syndicated loan worth $ 275 million to Suez Wind for the construction and operation of one of the largest wind farms in Africa. The wind farm in the Gulf of Suez region will have an installed capacity of 1.1 GW and will provide clean, renewable power at a lower cost than conventional generation methods.
The EBRD also continued to promote the digital transition in Egypt through an equity investment in Paymob as part of a $ 22 million financing round. The investment comes under the Bank’s Venture Capital Investment Program, which supports early- and growth-stage technology companies.
To foster a more inclusive economy in Egypt, around 60 percent of the Bank’s 2024 investments incorporated a focus on women’s economic empowerment. More than one-third of projects supported initiatives that explicitly address inequality while strengthening workforce capacity.
Under the EBRD’s Advice for Small Businesses, supported by the European Union (EU), more than 700 small Egyptian enterprises received advisory services and training last year.
In 2024, the Bank made more than €2.4 billion of new investments in 50 projects across the SEMED region, 85 percent of them in the private sector.
The region also continued to benefit from strong donor support, including from the EU, the EBRD SEMED Multi-Donor Account, the Green Climate Fund, the Global Concessional Financing Facility and other donors.
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