Cairo: Planning and Economic Development Minister Ahmed Rostom announced that Egypt executed public green investments amounting to EGP 215.5 billion during the fiscal year 2024/25, focusing on projects across seven crucial sectors, with green transportation taking the lead.
According to State Information Service Egypt, the announcement came as Minister Rostom received a comprehensive report detailing the implementation status of public green investments for FY2024/25. The report outlined significant achievements aligned with Egypt's commitment to augment environmentally sustainable investments and incorporate environmental considerations into development planning.
The report highlighted that green transportation constituted 71.5 percent of the total green investments during the fiscal year. This was followed by projects under the "Decent Life" initiative, which accounted for 10.5 percent, sustainable urban development at 8 percent, environmental improvement at 4.5 percent, agriculture and irrigation at 3 percent, clean energy at 1.5 percent, and contributions from the telecommunications sector.
Minister Rostom emphasized that a substantial 87 percent of these investments were directed towards climate mitigation projects, while the remaining 13 percent targeted climate adaptation initiatives. This strategic allocation is part of Egypt's broader efforts to advance environmentally sustainable projects in alignment with the National Climate Change Strategy and the country's green transition agenda, all while adhering to international standards.
Rostom further noted the ministry's objective to increase the share of green public investments from 15 percent in FY2020/21 to approximately 60 percent in the ongoing FY2026/27. This initiative underscores the state's dedication to sustainable development and transitioning towards a green economy.
The minister affirmed the ministry's commitment to integrating environmental sustainability standards throughout all stages of preparing, implementing, and monitoring the state's investment plan. This approach aims to foster more sustainable and inclusive economic growth, advance Egypt's Vision 2030, and bolster the country's role in regional and international climate action efforts.
Regarding the Decent Life initiative, Rostom noted that green investments under this flagship rural development program in FY2024/25 included the construction and upgrading of wastewater treatment plants, canal rehabilitation works, and the development of drinking water purification stations.