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Thursday, 24 November 2016

Egypt signs agreement to promote green investments during COP22

EGX joins COP22 green investments initiative: EGX head Mohamad Omran signed an agreement on Wednesday to join an initiative that aims to promote green investments globally, as part of the COP22 UN climate change conference in Morocco. Other signatories include the Bourse De Casablanca, the Tunisian Exchange, the Moroccan Capital Markets Authority, and the Egyptian Financial Supervisory Authority (EFSA). EFSA Head Sherif Samy said that Egypt’s ministries of investment and the environment will work together to prepare the framework, infrastructure, and financial instruments necessary to promote and facilitate capital investments in green projects. In related news, the governor of Luxor has told Al Mal that he has big plans to turn this ancient town into Egypt’s first solar power-dependent green city by 2025. With the state of the feed-in tariff program, we hope the governor will forgive us if we should opt not to hold our collective breath.

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