EBRD backs Egypt in hydrogen development

The bank has agreed to assess green hydrogen production and storage in the North African country

Big Zero Report 2023

The European Bank for Reconstruction and Development (EBRD) is assisting Egypt in transitioning to a greener economy, powered by renewable energy.

The bank has signed a deal with the country’s government to assess the potential for low carbon hydrogen supply chains and production.

Hydrogen is considered a key fuel for a net zero future and the North African nation is looking to secure a foothold in the market.

The EBRD will develop a strategy that aligns with Egyptian policy.

Egypt will host the COP27 climate conference at the end of this year.

Egyptian Minister of International Cooperation Rania Al-Mashat said: “Utilising low carbon hydrogen is a key step towards mitigating climate change, as the country moves to using clean and renewable energy.”

EBRD Vice President for Policy, Mark Bowman, added: “The Bank has been a strong supporter of renewable energy development in Egypt, providing policy advice, technical assistance and financing. Our aim is to back the country in achieving another milestone.”

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