Al-Mashat Witnesses Graduation of 8 Startups Within 1st Batch of Technical Support Program for CFA

Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat Witnesses Graduation of 8 Startups Within the 1st Batch of the Technical Support Program for the CFA, in Cooperation with the UK.

The Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat witnessed the graduation of the first batch of the technical support program for the Climate Finance Accelerator (CFA), which includes 8 startups in the field of energy, blue economy, manufacturing and circular economy, agriculture and land use, and waste management. This is in light of the partnership between Egypt and the UK to promote climate action by providing technical assistance and support to startups and environmentally friendly projects.

The first batch of projects and companies benefited from the technical assistance and capacity-building efforts made available by the CFA through qualified international and local cadres to promote technology concepts—finance, gender equality, social inclusion and climate change mitigation.

The CFA sets 4 criteria for selecting projects joining the technical support program in Egypt, which are mitigating climate change, reducing emissions through measurable results, the need for the project to be at least in the pre-feasibility studies stage, and seeking to obtain investments; taking into account the standards for equal opportunities between genders and social inclusion, as well as targeting the 7 main sectors in Egypt that are in line with the country’s vision and strategy—renewable energy, waste management, energy efficiency, waste-to-energy conversion, low-carbon construction, low-carbon manufacturing, and smart and green agriculture.