Egypt and Germany Strengthen Bilateral Cooperation with €30m Green Hydrogen Project Grant Agreement
Key Ideas
- Egypt and Germany signed a €30m grant agreement for a green hydrogen project, aiming to support Egypt's transition to a sustainable economy.
- The PTX Green Hydrogen Facility, a German initiative, will fund the project, which aligns with Egypt's renewable energy goals.
- The two countries also discussed priority projects for future cooperation, with a focus on areas like urban development, agriculture, and energy efficiency.
- The German government pledged €258m to support Egypt's energy transition, emphasizing the strong and longstanding relationship between the nations.
Egypt and Germany have reinforced their bilateral cooperation through a €30m grant agreement for a green hydrogen project. The initiative, supported by the PTX Green Hydrogen Facility, aims to bolster Egypt's sustainable economy efforts. During a meeting between Rania Al-Mashat, the Egyptian Minister of Planning, Economic Development, and International Cooperation, and Jochen Flasbarth, the German State Secretary of the Federal Ministry for Economic Cooperation and Development, preparations for the upcoming Egyptian-German governmental negotiations were discussed. Their dialogue emphasized the extensive economic cooperation portfolio amounting to €707.7m, focusing on projects in various sectors like urban development, agriculture, and renewable energy. Noteworthy is the commitment made during the COP-27 Climate Summit, with Germany offering €258m to support Egypt's energy transition. The conversation also highlighted joint projects such as the electricity transmission and smart grid development initiatives, essential for advancing Egypt's renewable energy objectives. Flasbarth praised the Egyptian-German debt swap program for financing development projects and expressed interest in broadening collaboration, particularly in green hydrogen and other mutual interest areas.
Topics
Projects
Renewable Energy
Sustainability
Economic Development
Bilateral Cooperation
Development Projects
Government Negotiations
Debt Swap
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