Is Egypt a Model for Green Development?

Egypt’s national objectives for 2030, known as Vision 2030, have been implemented to meet the United Nation’s Sustainable Development Goals. One of this strategy’s major aims is to ensure that 15% of government investment goes into green development projects, and this figure is set to increase to 50% by 2025.

This is not the first time Egypt has made its aspiration to be the voice of Africa clear. The country just hosted the United Nations Climate Change Conference — popularly referred to as COP27. In September, Egypt organized the meeting of African ministers of finance, economy, development and environment to formulate a unified vision for funding a transition to a greener economy. Amid Egypt’s recent moves to assert itself as an eco-friendly regional power, it seems fitting to explore key examples of green development initiatives spearheaded by the country in the last years.

Renewable Energy in Egypt

Egypt has invested in a multitude of renewable energy sources. The International Trade Administration reported that the government’s strategy is to make renewable energy generate 42% of energy by 2035, with wind energy making up 14%, hydroelectricity accounting for 2% and solar energy accounting for 25% of electricity generated by renewable resources.

An example of a development project putting Egypt on track to meet these goals is the Benban Solar Park, which was completed in 2019. It has 32 solar plants with four substations, holding up to 1.65-gigawatt capacity, making the Benban plant one of the largest solar power sites in the world. This development project illustrates the Egyptian government’s capability and commitment to meet its sustainable development goals.

Another example of successful green energy projects in Egypt is its biogas units which convert waste into electricity. Through this Fayoum-based project, biogas is obtained from the fermentation of organic waste. These units will provide a renewable energy source for household cooking and will also be used to produce organic fertilizer to improve soil properties in the region.

Cairo’s Monorail

Egypt is experiencing a rapid rate of urbanization, thus, augmenting the importance of transportation. 

To help prevent congestion and alleviate pollution, Egypt’s National Authority for Tunnels awarded a 4.5 billion dollar contract to UK Export Finance to build, operate, and maintain a monorail system for 30 years.  

It is set to become the world’s longest monorail while producing zero emissions and almost no noise. This project helps reduce emissions, lessen sound pollution and provide important public infrastructure for the population of Cairo.

Green Cities

Kharga has been declared the first green city in Egypt. There is no industrial pollution in the city due to the absence of industrial factories. Moreover, the city depends on renewable energy sources to generate government agencies, streetlights and places of worship and to extract water from irrigation wells and homes. There are monitoring stations for air quality, water quality, and noise pollution to ensure the city complies with environmental laws and legislation. Finally, the city holds many bike lanes to encourage zero-emission transportation.

There has been a plan to build 45 new cities in Egypt to accommodate its growing population. These cities will be developed in line with the European Bank for Reconstruction and Development’s Green Cities Program. There is no doubt that Egypt can build new green cities when looking at the successful green transformation of Kharga.

Green Bonds

Egypt is the first country in the Middle East and North Africa region to issue green bonds.

Green bonds are financial instruments that are used to fund new environmental projects while returning fixed income to investors. These bonds offer investors the opportunity to mitigate the climate emergency while receiving returns like those expected from traditional investments.

A report by Crédit Agricole claims that there is 1.9 billion dollars in green bonds that can be used to fund green projects. 16% of these bonds are for renewable energy projects, 19% for clean transportation, 26% for water and wastewater management and 39% for pollution prevention and control.

Takeaways

These examples of green development projects indicate that Egypt is on track to reach its sustainable development goals in line with the goals set out by the United Nations.

These projects not only contribute to ensuring environmental integrity but also help meet goals to improve the quality of life of Egyptian citizens. The economic and sustainable benefits of these development projects generate jobs, improve public infrastructure and help combat pollution, all of which contribute to the well-being of Egyptian citizens.

It is essential to look back on successful development projects in Egypt to understand why the country is eligible to be the voice for other African nations during COP27.