Europe-backed financing accelerates circular economy

From the newsletter

European institutions are increasingly backing African initiatives that embed circular economy principles. The latest example is a concessional financing and grant agreement worth $72.6 million, signed by the European Investment Bank (EIB), French Development Agency, and European Union (EU), to support Egypt’s Green Sustainable Industries (GSI) Program.

• The GSI Program is a $314.4 million Europe-backed initiative supporting Egypt’s industrial transition to a green economy through decarbonisation, energy and resource efficiency and circular economy practices.

• The Europe-backed investment in Egypt aligns with a growing trend of European support for circular economy initiatives across Africa, combining grants, concessional financing and technical assistance to promote sustainable industrial practices.

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