Minister of Industry Khaled Hashem met on Sunday, September 13, 2026, with Vice President for Policy and Partnerships at the European Bank for Reconstruction and Development (EBRD) Mark Bowman, the EBRD’s Director for Corporate Affairs Jacqui Powell, and their accompanying delegation to discuss the Bank’s projects in Egypt and ways to strengthen cooperation in industry, the green economy, water efficiency, and support for small and medium-sized enterprises.
Assistant Minister of Industry for International Cooperation Ahmed Maghawry and Assistant Minister of Industry for Industrial Policies Maha Saleh took part in the meeting. Talks reviewed the EBRD’s role in supporting the development of a competitive, resilient and sustainable private sector in Egypt, with industry at the forefront as a key driver of growth and a major pillar of efforts to reduce carbon emissions.
The meeting also covered the Bank’s efforts to help the private sector shift to renewable energy, in line with Egypt’s plan to raise the share of renewables in its energy mix to 45% by 2028. The officials also reviewed the Bank’s green economy projects and activities under the Climate Investment Funds (CIF), which are intended to provide large-scale concessional green financing to developing and emerging economies and encourage private-sector investment in low-carbon, sustainable development.
Egypt was one of seven countries selected to benefit from up to 250 million euros in concessional financing from the CIF. The EBRD is the leading international financial institution in the initiative, in cooperation with the Egyptian government. Regarding the increased use of renewable energy, the minister said Egypt’s industrial strategy aims to increase the sector’s reliance on renewable energy through the launch of the “Industrial Sun” initiative to install solar power plants at factories.
The ministry is also working with the United Nations Development Program on the Solar Energy Transition Initiative (SETI), which aims to install solar systems at state-owned industrial facilities, as well as on measures to improve energy efficiency in factories.
The minister said the ministry was also focusing on reducing water consumption in industry by promoting closed-loop water systems at factories and increasing demand for water-reuse plants and systems. These efforts could help create a new market and encourage international companies to localize production in Egypt, he said.
Hashem said the ministry was looking to the EBRD to support private-sector companies that would install solar power plants and water-efficiency and reuse systems, particularly as the government seeks to expand such systems across industrial zones.