Egypt and Germany possess bolstered their bilateral cooperation with the signing of a €30m grant agreement for a inexperienced hydrogen mission. The agreement become signed all the blueprint in which via a gathering between the Egyptian Minister of Planning, Economic Pattern, and Global Cooperation Rania Al-Mashat and German Drawl Secretary of the Federal Ministry for Economic Cooperation and Pattern Jochen Flasbarth.
The inexperienced hydrogen mission can be funded by the PTX Green Hydrogen Facility, a German initiative geared toward supporting inexperienced hydrogen pattern in Egypt and other countries. The mission is anticipated to contribute to Egypt’s efforts to transition to a more sustainable financial system.
Al-Mashat and Flasbarth additionally mentioned preparations for the upcoming Egyptian-German governmental negotiations, scheduled to be held in Berlin later this year. The negotiations will focal point on figuring out precedence initiatives for cooperation between the 2 countries in the arriving years.
Al-Mashat highlighted the solid and longstanding relationship between Egypt and Germany, emphasizing the importance of bilateral financial cooperation. She important that the financial cooperation portfolio with Germany for the time being amounts to €707.7m, financing loads of initiatives in areas similar to urban pattern, irrigation, agriculture, renewable energy, and energy efficiency.
The minister additionally commended the efficient cooperation between the 2 countries in the discipline of renewable energy and energy efficiency, citing the political declaration issued all the blueprint in which via the COP-27 Local weather Summit final year. The German authorities pledged to present €258m in financing to enhance Egypt’s energy transition.
To boot to to the inexperienced hydrogen mission, Al-Mashat and Flasbarth mentioned the growth made on other joint initiatives, including the electricity transmission mission and the tidy grid pattern mission. Both initiatives are geared toward supporting Egypt’s renewable energy dreams and bettering energy efficiency.
Flasbarth praised the Egyptian-German debt swap program, which has been a success in financing pattern initiatives in Egypt. He additionally expressed hobby in expanding cooperation in the discipline of inexperienced hydrogen and other areas of mutual hobby.
