The pioneering initiative, launched under the CIF’s Clean Technology Fund (CTF), is the first of its kind to focus exclusively on industrial decarbonization in emerging markets
Egypt has been selected as one of only seven countries worldwide to benefit from the Climate Investment Funds’ (CIF) $1 billion Industrial Decarbonization Program, aimed at reducing emissions in developing nations’ industrial sectors.
The announcement was made by Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, who emphasized that the selection from a competitive pool of 26 applicant countries underscores international confidence in Egypt’s climate policies and green transformation agenda.
The initiative, launched under the CIF’s Clean Technology Fund (CTF), is the first of its kind to focus exclusively on industrial decarbonization in emerging markets. Egypt joins Brazil, Mexico, Namibia, South Africa, Turkey, and Uzbekistan as the first recipients of support from the program.
According to Al-Mashat, Egypt’s proposal was submitted in partnership with key international financial institutions, including the European Bank for Reconstruction and Development (EBRD), the World Bank, the International Finance Corporation (IFC), and the African Development Bank (AfDB). The submission highlighted Egypt’s strategic shift toward a green economy, institutional readiness, and the engagement of private sector actors in climate financing.
“This achievement affirms global trust in Egypt’s vision and efforts to align national development strategies with climate goals,” Al-Mashat stated. “We are committed to strengthening our institutional capacity and promoting investment policies that foster environmental sustainability and economic competitiveness.”
The CIF noted that the seven selected countries were chosen based on an independent evaluation. The program aims to accelerate the transition to low-emission industrial systems, spur green job creation, and position participating countries to capitalize on a growing global market for environmentally sustainable goods—projected to reach $2 trillion by 2030.
Al-Mashat also pointed to Egypt’s heightened climate action momentum since hosting the COP27 summit in Sharm El Sheikh in 2022. During the summit, Egypt launched the “NWFE” (Nexus of Water, Food, and Energy) country platform, an internationally recognized model that seeks to drive climate investment through partnerships involving the government, development agencies, and the private sector.
In addition to the decarbonization initiative, Egypt was previously recognized by the CIF during COP27 as the top-ranked country in the North Africa and Europe region under the “Nature, People, and Climate Investment” program—a separate $500 million initiative supporting projects in climate-smart agriculture, coastal restoration, and inclusive green development. Ongoing technical discussions are being held to leverage that funding within the NWFE framework.
Tariye Gbadegesin, CEO of CIF, underscored the urgency of industrial decarbonization, particularly in emerging economies. “The global race to decarbonize the industrial sector has begun, and emerging markets are leading the way,” she said. “This is not just about emissions; it's about ensuring long-term prosperity, generating jobs, and producing the low-carbon materials essential to scaling renewable energy and powering the global economy.”
Under the program, the selected countries will develop detailed investment plans in collaboration with multilateral development banks and private sector partners. Once approved by the CIF board, these plans will unlock access to highly concessional financing to scale up technologies like green hydrogen and low-carbon industrial processes.
The CIF’s Clean Technology Fund, valued at $9 billion, employs a groundbreaking private capital mobilization mechanism—one that reportedly generates $12 in additional investment for every $1 of CTF funding—making it a key tool for driving large-scale sustainable development.
With this selection, Egypt is poised to play a leading role in advancing global industrial climate action while positioning its economy for a greener, more competitive future.
