Partnership bet. Egypt, Japan reach $3B over 18 projects

The partnership between Egypt and Japan encompasses over 18 projects aimed at advancing the nation's sustainable development objectives, with a total investment exceeding $3 billion as per an official statement from the Cabinet.

This initiative was underscored during a meeting involving Prime Minister Mostafa Madbouly and a delegation comprising 24 leaders and representatives from Japanese firms specializing in renewable energy, water management, business and development entities, as well as Japanese financial institutions.

Madbouly emphasized the significance of ongoing collaborative ventures with Japan, which include initiatives such as the metro's fourth line project, educational programs, and human capital development within Egyptian-Japanese schools.

Furthermore, Egypt and Japan are working in tandem on significant projects like the Grand Egyptian Museum and the enhancement of the Abu Al-Rish hospital, a pivotal endeavor in the healthcare sector.

Expressing Egypt's commitment to bolstering renewable energy, Madbouly announced the establishment of the National Council for Green Hydrogen.

Additionally, the government has introduced the National Strategy for Low-Carbon Hydrogen, with a target for renewable energy sources to constitute 42 percent of the energy mix by 2030.