This report was developed by the OECD Clean Energy Finance and Investment Mobilisation (CEFIM) programme, as part of the programme of work of the OECD Working Party on Finance and Investment for Environmental Goals (WPFIEG) under the Environment Policy Committee (EPOC). The team would like to thank Yuval Laster, Head of the Finance, Investment and Global Relations Division at the OECD Environment Directorate.
The report was authored by Moongyung Lee, with strategic insights from Deger Saygin. Valuable contributions were provided by Julia Wanjiru, who co-ordinated the revision and finalisation of the report, and by Joana Argemí Ribalta (author of Chapter 1). Abdelrahman Mostafa, Paolo Colbertaldo, Giulio Guandalini, and Matteo Carmelo Romano from Politecnico di Milano provided analytical inputs for Chapters 2 and 3. Deniz Bastunali and Dominique Haleva provided administrative support and editorial assistance. Alyssa Perrott, Beth del Bourgo and William Foster supported communication efforts.
The team is grateful for the feedback received from the following OECD colleagues: Laura Arnemann, Geraldine Ang, Joseph Cordonnier, Benjamin Denis, Cornelia Schenk, Luisa Dressler and Assia Elgouacem, as well as Herib Blanco from the International Energy Agency (IEA).
This review was prepared under the Clean Energy Finance and Investment Mobilisation (CEFIM) project, as part of Pillar 5 on Sustainable Development of the Egypt-OECD Country Programme. The programme is co-ordinated by the Middle East and Africa Division of the OECD Global Relations and Co-operation Directorate, under the leadership of Carlos Conde. Charlotte Goemans served as the OECD co-ordinator for the country programme. On the Egyptian side, Heba Youssef from the Ministry of Planning and Economic Development led the co-ordination efforts, alongside Maged Bahaa, the project’s focal point. Valuable support in co-ordination and communication throughout the implementation of the programme was also provided by Mohammed Saffar and Benoit Geradin (OECD).
The CEFIM team extends its gratitude to the key officials and experts from the Government of Egypt for their valuable insights and feedback: Ahmed Mahrous and Ahmed Mehina (Ministry of Electricity and Renewable Energy), Karim Shahin (Egyptian Cabinet of Ministers); Nermine Abulata, Sara Noaman (Ministry of Industry); Ahmed Abbas and Walid Ali (Central Bank of Egypt); Ahmed Bahaa and Ahmed Osama (Ministry of Petroleum and Mineral Resources); Amany Essawi (Suez Canal Economic Zone); Atter Hannoura (Ministry of Finance). In particular, the author gratefully acknowledges Ahmed Mehina for his strategic guidance and continued support throughout the development of this work.
Thanks also go to the following external experts for their valuable insights and contributions: Pablo Navacerrada (former United Nations Industrial Development Organization, UNIDO); Ahmed Osama Hassan, Smeeta Fokeer (UNIDO); Joana Gjinopulli, Salma El Naggar, Hamza Al-Assad, Cristian Carraretto, Sung-Ah Kyun (European Bank for Reconstruction and Development, EBRD); Kristian Mehl (Embassy of Denmark in Egypt); Jorge Mario Arango Diaz (Deutsche Gesellschaft für Internationale Zusammenarbeit, GIZ); Noha Elbalky, Adel Taha (Federation of Egyptian Industries-Environmental Compliance Office); Susana Moreira (H2Global); Juan Garin (Blue Dot Network Secretariat); Antoine Willenbucher and Alice Regnier (Embassy of France in Egypt).
This report draws on valuable insights from three stakeholder consultation workshops held in Cairo, Egypt (January 2024, May 2024 and April 2025), benefitting from contributions from the following experts: Marwan Assar (Scatec ASA); Matteo Carmelo Romano (Politecnico di Milano); Patrick Carter (EBRD); Omar El Sharkawi (Fertiglobe); Ahmed El Beltagui (EU Delegation to Egypt); Sherif El Gabaly (African Parliament); Karim El Azzawy (Voltalia); Borhan Elsayed (ENI); Rawya Elshazly (KfW); Iskander Ezzerelli (European Investment Bank); Fabio Grandchamp (Complexo de Pecém); Ayman Haiba (Sustainable Energy Development Association); Ibrahim Hammam (LYNX); Abd El Mageed Hegazy (KIMA); Omar Hosny (Hassan Allam Masdar Infinity); Hyunseok Jeong (Samsung E&A); Silvia Carolina Lopez Rocha (World Bank); Sylvie Mahieu (African Development Bank); Susana Moreira (H2 Global); Pablo Navacerrada (former UNIDO); Amir Nashed (National Bank of Egypt); Cecile Seguineaud (OECD); Ayman Soliman (former Sovereign Fund of Egypt); Simran Sinha (GH2 Cairo Center of Excellence for Green Hydrogen); Adel Taha (FEI-ECO); Malak Taher (former Ministry of International Cooperation of Egypt); Roberto Gonzalez (EBRD); Loura Wiehler (GIZ); Frank Wouters (Mediterranean Green Electrons and Molecules Network). Joana Argemí Ribalta (former OECD), Rana Elghadry and Mohamed Abdelhameed (DFA Advisors) supported the organisation of these workshops.