In September 2018, the United Nations Industrial Development Organization (UNIDO), the Regional Center for Renewable Energy and Energy Efficiency (RCREEE), and the Egyptian Environmental Affairs Agency (EEAA) signed a Cooperation Protocol for the operation of the Industrial Energy Efficiency Fund (IEEF) in Egypt. This Fund is a continuation of UNIDO and EEAA’s efforts under the “Industrial Energy Efficiency in Egypt” project (the “IEE Project”), financed by the Global Environment Facility (GEF) and implemented during the period June 2012 to September 2018.

Through the capacity building component of the IEE project, UNIDO delivered extensive training to selected energy management and system optimization experts over the years. Within the project scope, these experts supported the implementation of measures resulting in significant energy savings and the creation of good awareness among industry and other stakeholders in Egypt on the impact of energy management and system optimization in improving energy efficiency. EEAA as the executive arm of the Ministry of Environment, responsible for the development and implementation of environmental strategies and policies in Egypt, has been the executing partner of the owner of the IEE project and is the owner of the Environmental Protection Fund (EPF), which was established by law 1994 to provide funding for projects complying with environmental policies and regulations.

The established IEE Fund will highlight success stories from the previous project and capitalize on the accumulated knowledge and expertise. More generally, the IEEF Egypt will contribute to sustainable economic development in the country and to an increase in the competitiveness of the industrial sector while addressing the issues of the environment through climate change mitigation and environmental footprint.