Ahead of Women’s Day, the European Bank for Reconstruction and Development (EBRD) announced a new programme to help bring women entrepreneurs on top of Egypt’s green sector pyramid."EBRD is putting women at the center of its commitment to Egypt's transition to a green economy with a new initiative that supports the country’s vast potential for renewable energy," the bank says in a statement.

With the wordy title of “Programme for Supporting Renewable Energy and Promoting Gender Equality in Egypt,” EBRD aims to identify and address the key barriers hindering the development of the region’s economy of renewable energy sector.

The programme is a $7-million joint venture between the EBRD and the Green Climate Fund (GCF), a fund established within the framework of the UNFCCC as an operating entity to assist developing countries in adaptation and mitigation practices to counter climate change. 

So far, the EBRD has contributed with €4.8 billion to 91 projects in Egypt; 16 of which are renewable projects. "With one of the fastest-growing populations globally, Egypt has seen a rapid increase in energy demand in recent years,” reads the bank’s statement. “To meet that need, Egypt and the EBRD have identified scaling up the country's renewable energy capacity as a strategic priority.”