Egypt: Minister of Planning, Economic Development and International Cooperation Witnesses the Conclusion of the First Phase of the Green Economy Financing Facility for the Private Sector in Cooperation with the European Bank for Reconstruction and Development
In her speech, H.E. Dr. Rania Al-Mashat explained that the Green Economy Financing Facility (GEFF I) embodies our shared commitment to enhance resilience, support inclusion, and advance environmental sustainability, explaining that in its first phase, the mechanism contributed to injecting financing worth $154 million benefiting 130 projects, enabling micro, small and medium enterprises (MSMEs) to adopt innovative and sustainable technologies. By combining technical support with various incentives, the initiative contributed to reducing operational costs, enhancing competitiveness and building a strong foundation for an inclusive, resilient and sustainable green economy.
Al-Mashat welcomed the launch of the second phase of the mechanism, which expands its scope to include climate change mitigation and adaptation projects, including sustainable land management, circular economy practices, and resource efficiency. Approximately $175.5 million will be allocated for the private sector in Egypt through commercial banks, reflecting the Egyptian government's ongoing commitment to reducing carbon emissions, enhancing competitiveness, and addressing urgent climate priorities.
H.E. emphasized that are consistent with Egypt's broader approach to climate financing, in light of global efforts to mobilize innovative financing solutions, especially in light of the global need for climate financing estimated at $7.4 trillion annually by 2030. Egypt has become a regional leader in leveraging concessional development financing, innovative financing mechanisms, and debt swap programmes to promote climate action.
Furthermore, H.E. noted that at the heart of these efforts is the Country Platform for the NWFE program (The Water, Food, and Energy Nexus), which represents a qualitative shift in integrated climate action. The platform, based on the National Climate Change strategy 2050, is a comprehensive model for adaptation and mitigation, that enhances resilience and aligns with global climate goals. It also highlights Egypt's leadership in mobilizing innovative financing mechanisms that ensure inclusiveness and sustainability at the national and regional levels.
H.E. stated that the European Bank for Reconstruction and Development (EBRD) is a key development partner by mobilizing concessional financing and private sector investments, contributed to mobilize $3.9 billion to implement projects with a capacity of 4.2 gigawatts.
During the event, the Minister of Planning, Economic Development and International Cooperation and the Vice President of the EBRD honored the banks that benefited from the mechanism in its first phase, contributing to increasing financing for small and medium enterprises (SMEs) and green projects.
Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
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The RSF's control of the triangle border has granted the group additional strategic leverage. With plans to announce a parallel government in Darfur, the RSF now controls border access to five countries: South Sudan, the Central African Republic (CAR), Chad, Libya and Egypt. 'The Sudan-Libya border has long been a major entry point for weapons and mercenaries supporting the RSF, financed by the UAE and coordinated through Haftar's forces' - Sudanese Military Capabilities Platform report This geographic advantage offers the RSF potential flexibility in future cross-border trade, arms supply and logistics networks. Despite these territorial gains, the military expert told MEE that the RSF's current movements may carry limited military weight and instead serve as political compensation for the group's substantial battlefield losses elsewhere in the country. 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'The Sudan-Libya border has long been a major entry point for weapons and mercenaries supporting the RSF militia, financed by the UAE and coordinated through Haftar's forces and affiliated armed groups,' the think tank said in a recent report. 'These forces, following the RSF's repeated battlefield defeats, have now resorted to direct military intervention to support the militia's remaining operations.' The think tank also published photos and videos purportedly showing Libyan and RSF fighters together in the triangle border area. Competing interests over gold Moumen Abdul Rahman, a mining engineer based in Northern State, believes the RSF has an additional motive for advancing into the region: to retake control of gold mines it previously held before the war erupted. According to Abdul Rahman, the RSF previously owned at least three gold mines in the Akasha area on the eastern bank of the Nile, near Wadi Halfa. The militia reportedly held shares in these mines through a joint venture with the Turkish-Qatari company DELGO, as well as in sites located on the western bank of the Nile near Dongola. He noted that the RSF withdrew from these areas just days before the outbreak of the war in Khartoum, particularly after seizing the Merowe military airport three days before the fighting began. The smugglers and miners running gold on the Egypt-Sudan border Read More » MEE contacted Sudan's ministry of mineral resources to verify these claims but received no response. A researcher familiar with the matter told MEE that the RSF previously owned full or partial stakes in several mines in Northern State through its commercial arm, Al Junaid Company. These assets were later confiscated by Sudanese authorities before the company was added to the United States' sanctions list for allegedly fuelling the war. The researcher, who requested anonymity for security reasons, explained that both warring sides have aggressively targeted each other's financial networks as part of a broader strategy to cut off funding sources. 'The confiscation of RSF-linked companies, gold mines, assets, bank accounts and other commercial interests is a significant dimension of this conflict,' the researcher said. Further insights from the Sudanese think tank Demands-Based Groups TAM, shared with MEE, suggest that the RSF had previously seized a number of mining areas in Northern State that were formerly controlled by associates of the ousted Bashir regime, including family members, security officials and corrupt business networks. In its study titled 'DELGO Company: The Real Face of the Sudanese War', the think tank found that the RSF inherited control over gold mines in al-Qaoub, Halfa, Delgo and other regions after the 2019 revolution. Public pressure had been growing at the time for these mines to be shut down amid widespread concerns over resource exploitation and environmental degradation. However, the SAF regained control of these mining areas following the outbreak of the war in 2023, after the RSF fighters previously stationed to guard the sites fled. Gold mining triangle The gold-rich triangle border area has long been a crucial supply hub for the RSF, as well as for the joint Darfur forces, former rebel groups now allied with the SAF in the ongoing war. These joint forces have been actively fighting the RSF in Darfur, particularly around el-Fasher, the capital of North Darfur State. 'You made a mistake trying to leave': Crossing enemy lines in the heart of Sudan Read More » The region encompasses four major mining zones, including Algilayaa and Alkatma, where thousands of miners from various countries are engaged in gold extraction. Beyond its economic importance, the RSF has maintained a longstanding military presence in the triangle border area. Its Chevrelet military base has been used since 2014 to combat human trafficking, irregular migration and cross-border crime as part of the Khartoum Process, an EU-backed initiative to manage migration flows through Sudan. The same researcher who spoke to MEE on condition of anonymity and has visited the area multiple times said the two warring factions (the SAF and RSF) have been in a protracted conflict of interest over control of the region's lucrative gold mines, even before the war officially began. The RSF's commercial arm, Al Junaid Company, was granted a mining concession in the area in 2018 and 2019. However, Ariab Mining Company, which is aligned with the SAF, was also awarded a concession for the same territory, reflecting competition between Sudan's military and paramilitary forces that predates the current conflict. 'Looking at these underlying disputes and competing interests helps us understand some of the deeper reasons behind this war,' the researcher said. 'At its core, this is a fight over wealth and power, and the gold-rich triangle border region is a perfect example of that.'
