Egypt and Germany have strengthened their bilateral cooperation with the signing of a €30m grant agreement for a green hydrogen project. The agreement was signed during a meeting between the Egyptian Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat and German State Secretary of the Federal Ministry for Economic Cooperation and Development Jochen Flasbarth.
The green hydrogen project will be funded by the PTX Green Hydrogen Facility, a German initiative aimed at supporting green hydrogen development in Egypt and other countries. The project is expected to contribute to Egypt’s efforts to transition to a more sustainable economy.
Al-Mashat and Flasbarth also discussed preparations for the upcoming Egyptian-German governmental negotiations, scheduled to be held in Berlin later this year. The negotiations will focus on identifying priority projects for cooperation between the two countries in the coming years.
Al-Mashat highlighted the strong and longstanding relationship between Egypt and Germany, emphasizing the importance of bilateral economic cooperation. She noted that the economic cooperation portfolio with Germany currently amounts to €707.7m, financing several projects in areas such as urban development, irrigation, agriculture, renewable energy, and energy efficiency.
The minister also commended the effective cooperation between the two countries in the field of renewable energy and energy efficiency, citing the political declaration issued during the COP-27 Climate Summit last year. The German government pledged to provide €258m in financing to support Egypt’s energy transition.
In addition to the green hydrogen project, Al-Mashat and Flasbarth discussed the progress made on other joint projects, including the electricity transmission project and the smart grid development project. Both projects are aimed at supporting Egypt’s renewable energy goals and improving energy efficiency.
Flasbarth praised the Egyptian-German debt swap program, which has been successful in financing development projects in Egypt. He also expressed interest in expanding cooperation in the field of green hydrogen and other areas of mutual interest.