RCREEE signs a protocol with EEAA and UNIDO on the implementation of the Industrial Energy Efficiency Fund in Egypt

September 24, 2018- Cairo, Egypt: RCREEE was awarded the implementation of the UNIDO funded project “Establishment and Operation of the Industrial Energy Efficiency Fund in Egypt” in close collaboration with the Egyptian Environmental Affairs Agency (EEAA), the Environmental Protection Fund (EPF).

The signature ceremony took place at the final event of “Industrial Energy Efficiency Project in Egypt – Low cost solutions for clean energy” where Dr. Ahmed Badr signed the protocol for this new 3-year project.  

The project award confirms RCREEE’s strong expertise in green economy and climate finance. Other flagship projects in RCREEE’s portfolio include the Green Economy Financing Facility, the Egypt Sustainable Energy Financing Facility and Capacity Needs Assessment (CNA) for Green Banking.

The IEE Fund is a financial instrument that supports the delivery of technical services for industrial energy efficiency in Egypt. It will further serve to increase awareness of the benefits of energy efficiency in the sector.

The three parties signed the protocol as a guide for streamlining the procedures for the management and operation of the fund to start operations immediately this year. Eng. Ashraf Kraidy will act a team leader for this assignment and Ms. Iliyana Arnaudova as a project coordinator.