EBRD Partners With Ministry Of Development To Support Climate-Focused Startups In Egypt

EBRD Partners With Ministry Of Development To Support Climate-Focused Startups In Egypt

6 out of 18 startups have been selected by EBRD to be given support for them to scale in the ecosystem. This selection is a result of The European Bank for Reconstruction and Development (EBRD) partnership with the Ministry of Planning and Economic Development to support a few startups in Egypt.

Both parties of the partnership are meant to sign an agreement which will grant the selected 6 startups a full package which includes training, technical support and business mentorship and advisory services.

The partnership was disclosed by a social media post made by the Ministry. The post revealed that EBRD will support 6 startups within the ministry, especially within its “Smart Green Governorates” initiative.

The Smart Green Governorates is an initiative by the  Planning and Economic Development Ministry initiative to create a platform whereby Egyptian climate-supporting projects can be showcased. This event will give the selected 6 the opportunity to showcase themselves during the COP27 with the goal of ultimately attracting global investments to their initiative.

The selected startups were chosen across the various categories within the initiative which includes megaprojects, medium projects, and small and local projects. Emphasis was made on ideas and startups with a focus on Decent Life presidential initiative startups, non-profit social initiatives, likewise ideas associated with climate change, sustainability and women.

The selected startups include Archtech, Banlastic, Engazat, Kadet el Mostakbal, Noornation and Rabbit.

Asides from the training and mentorship package also included in supporting the startups is access to EBRD’s community of over 400 qualified indigenous business consultants and 1,500 international experts.

The European Bank for Reconstruction and Development (EBRD) has been in support of climate sustainability initiatives,

Recently, it lent TAQA PV for Solar Energy $4.95 million this is part of EBRD’s focus, the need to promote the expansion of renewable energy within in Egypt. The funds will support the construction, development and operation of a 7 MWp solar photovoltaic (PV) project in El Minya.

Anuoluwamipo. E. Idowu

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The Ouut 2022
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