On March 21st, the European Bank for Reconstruction and Development (EBRD), in cooperation withthe Agence Française de Développement (AFD) and the European Investment Bank (EIB), officially launched the new Green Economy Financing Facility (GEFF) for Egypt at the launch event in Cairo. MWH, now part of Stantec, was awarded the contract by the EBRD for the implementation and technical support of the GEFF programme, a credit line of 140 million euro for financing of energy efficiency and small scale renewable energy projects, and the successor to Pilot EgyptSEFF program, for which MWH managed the project implementation as well.
The GEFF is aimed at increasing the energy efficiency and use of renewable energy investments across Egypt, through the programme efforts will be made to establish a pipeline of eligible sub-projects that can emulate the successes of other projects that were completed in the first phase of the project with EgyptSEFF.
As the Project Consultant, the role of MWH will comprise of various promotional, marketing awareness raising activities and development strategies aimed at supporting sub-borrowers to fulfill the requirements needed to qualify for eligible investments. The project also includes preparing feasibility reports and case studies as a means of archiving lessons learned and of assessing energy savings and CO2 reduction, to be repurposed to entice other interested parties to partake in this opportunity, and to ensure that successes can be replicated. Serving the Egyptian partner banks will also be one of the key roles of MWH in terms of training, capacity building and technical and financial assistance.
Dr Murat Sarioglu, Operations Director for MWH in Turkey: “It is an honour to have been awarded this contract. The expansion is a testament to the accomplishments from the pilot phase of the project. We are looking forward to continue the work to meet the growing market need for sustainable energy in Egypt.”