Egypt subscribes to climate control! Poised to sign a 70M Euro agreement for pollution reduction

Published December 23rd, 2014 - 07:57 GMT

Prime Minister Ibrahim Mehleb witnessed Monday the signing of a funding agreement of the “Industrial Pollution Control (Phase III)” worth €70m.

The agreement was signed between the Central Bank of Egypt (CBE), the Environmental Affairs Agency, and the National Bank of Egypt (NBE), and the European Investment Bank, according to a cabinet statement.

The project will provide technical and financial support to industrial facilities nationwide in line with environmental laws, and develop an accredited system in the local market to fund industrial pollution reduction projects. It will also provide preferential treatment for small and medium industries to encourage them to invest in industrial pollution reduction projects to sustain and expand their operations.

This project was launched in 1997 through two phases, and phase three, which will be launched in early January 2015, is currently being prepared.

The first and second phases focused on counter-industrial pollution projects and “end-of-pipe” projects.  A World Bank loan amounting to $35m was allocated to 24 projects for air pollution and industrial drainage with 20% grant and 80% loan. The total amount of loans for the second phase amounted to $175m funded by the International Bank for Reconstruction and Development, the Japan Bank for International Cooperation, the European Investment Bank, and the French Development Agency. It was allocated to environmental projects in Greater Cairo and Alexandria factories. These focused on those located in densely populated areas, including Tora, Helwan, Hawamdia El-Saff, Atfih, Shubra, Abou Qir, and El- Max.

Among the most important sectors of focus in the second phase was the cement sector, as these projects were funded with 60% of the available fund value.

As for the project’s third phase, it includes: a funding component to finance pollution reduction projects; cleaner production; use of agricultural and municipal waste for industrial purposes, such as alternative fuel and fuel conversion; in addition to projects for improving energy efficiency. The focus of these projects will be on the River Nile and air pollution.

© 2021 Daily News Egypt.

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