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Egypt among 7 states selected for CIF’s groundbreaking $1 bn Industry Decarbonization investment program
Egypt was named among seven countries for the groundbreaking $1 billion Industry Decarbonization investment program of the Climate Investment Funds (CIF)—the first global concessional finance initiative dedicated to reducing industrial greenhouse gas (GHG) emissions in developing countries.
The other six countries are Brazil, Mexico, Namibia, South Africa, Türkiye, and Uzbekistan.
By harnessing the program, these countries are leading the charge on low-carbon industrial transformation and green job creation. This will position them for long-term economic competitiveness and to take advantage of the global market for green industrial goods projected to reach $2 trillion by 2030.
The seven countries will collaborate with multilateral development banks and private sector partners to develop investment plans, which will be submitted to CIF’s Governing Board for endorsement. They will then gain access to highly concessional funding to scale up clean and circular technologies—such as green hydrogen, waste heat recovery, and low-carbon materials like steel, aluminum, and cement—that are critical to the global energy transition.
CIF’s Governing Board selected these seven countries from a pool of 26 applicants, following an evaluation by an independent expert group. They demonstrated strong private sector engagement, institutional readiness, and clear commitment to industrial decarbonization.
In line with the design of the program, invited countries have already started unprecedented engagement with the private sector. The program allows up to 100 percent of financing to be directed towards private sector-led projects or those attracting significant private co-investments, with a mandatory minimum allocation of 50 percent.
Additionally, the program focuses on safeguarding and reskilling the workforce, ensuring vulnerable communities are supported and workers are equipped to seize future-proof, green job opportunities.
The Industry Decarbonization investment program is part of CIF’s $9 billion Clean Technology Fund (CTF). CTF is underpinned by the CIF Capital Markets Mechanism (CCMM), a first of its kind instrument mobilizing private capital to advance countries’ priorities for sustainable, inclusive, and resilient development.
CTF routinely achieves particularly high co-financing ratios and strong private sector engagement – overall, $1 invested by CIF is expected to generate $12 in financing.
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