Minister of Investment and Foreign Trade (MIFT Minister), Dr. Mohamed Farid Saleh, affirmed that climate finance is no longer merely an environmental commitment, but has become a central pillar of economic competitiveness amid accelerating global shifts toward a green economy. This comes in line with Egypt’s vision to enhance the competitiveness of its business environment, making it more attractive to climate investments and financing, while also preparing Egyptian exports to access a broader range of global markets in compliance with the Carbon Border Adjustment Mechanism (CBAM).
These remarks were delivered during his opening address at the Climate Finance Accelerator (CFA) Conference, implemented in cooperation with the British Embassy in Cairo and Flat6Labs. The event was attended by UK’s Special Representative for Climate, Dr. Rachel Kyte; Deputy Head of Mission at the British Embassy in Cairo, Ms. Catherine Carr; as well as a distinguished group of investment experts, international partners, and startup founders operating in sectors aligned with climate objectives.
At the outset of his speech, MIFT Minister underscored the strong and evolving partnership between Egypt and UK in driving investment in the green economy, reflecting the depth of their longstanding economic and historical relations. He pointed out that bilateral trade reached approximately £2.8 billion in 2025, including £1.5 billion in Egyptian exports and £1.3 billion in British exports, reaffirming UK’s position as the second-largest foreign investor in Egypt.
With regard to climate finance, Dr. Farid stressed the importance of integrating green investments and climate financing into the Government of Egypt’s annual plan, with a view to maximizing the benefits of investment opportunities associated with the transition to a low-carbon economy.
In a related context, MIFT Minister revealed that ongoing consultations are underway to support the access of the Egyptian CBAM-compliant exports to international markets. He emphasized that aligning the Egyptian industry with these standards is essential to safeguarding market share and enhancing export competitiveness.
He further explained that Egypt’s vision aims to increase the share of renewable energy in the national electricity mix by 2030, stressing that delivering on this ambition requires unified national efforts and continued investment in human capital to cement Egypt’s standing in global carbon markets.
Dr. Farid also underscored the importance of developing regulatory frameworks in line with the evolving nature of climate finance, noting that an effective system must accommodate diverse financial instruments and varying institutional capacities, while applying robust oversight methodologies to ensure that climate commitments translate into tangible economic outcomes for the business community and the citizen as well.
In closing, MIFT Minister commended CFA program outcomes as a successful model of international cooperation in advancing the green transition, by enabling climate projects and transforming them into bankable investment opportunities. CFA is an international initiative funded by the UK Government, aimed at supporting developing countries—including Egypt—in accelerating the transition to a low-carbon economy through an integrated package of technical and financial support, including financial modeling, capacity building, and alignment with international sustainability and ESG standards.
