By Manal Abdel Fattah
The Climate Finance Accelerator (CFA) Egypt has launched its second call for proposals to identify Egyptian projects fighting climate change that would benefit from expert advice and support to help them attract investment. 8-12 projects are expected to be selected from the energy, water, smart agriculture, clean transport, waste, and circular economy sectors.
Funded by the UK Government, the CFA is looking for projects that are in at least the pre-feasibility stage and require a minimum of USD$1 million financing. The call for proposals is open from 12 December until 5 February and projects wishing to apply should complete the online application.
This unique programme offers selected projects one-to-one advice and support from technical and financial experts to strengthen their business plans and increase their chances of finding investment. Support for projects includes improving financial models, tips and practice on how to pitch to investors and advice on how to calculate and communicate climate impacts and embed gender equality and social inclusion (supporting women and other disadvantaged communities) within their business model. Projects will have the chance to meet and present their project to investors at the final event to be held in July 2024.
The CFA aims to improve the flow of climate finance in Egypt, supporting Egypt’s green transition and emissions reductions.
British Ambassador to Egypt said: “As COP28 concludes, we seize this moment to unveil the second round of applications for the CFA programme in Egypt, aimed at empowering the next generation of climate-friendly projects within the country. Following the UK’s hosting of COP26 and the subsequent transfer of the presidency to Egypt in COP27, both countries have collaborated on advancing the climate agenda, a commitment that persisted through COP28. In alignment with our sustained green partnership, the UK is committed to supporting Egypt’s transition towards a green economy. Through this initiative, we aspire to cultivate a thriving landscape of green enterprises and driving green investments forward.”
The CFA is implemented in Egypt by our new in-country delivery partner Flat6Labs who will be promoting and running the programme for selected projects.
Commenting on the CFA, Yehia Houry, Chief Programs Officer at Flat6Labs, said: “We look forward to leading on the implementation of the CFA in Egypt, a country known to be a vast source of promising young entrepreneurs full of energy, creative ideas and ventures. The challenges related to climate change are increasingly critical, and it is our collective responsibility to support the success of innovative solutions that aim to address these global challenges.”
The first phase of CFA Egypt saw eight projects receive technical and financial expertise before they pitched to investors at the final event held at the British Embassy in Cairo in May 2023. Projects in the first CFA Egypt cohort came from various sectors, including agriculture, forestry and other land uses (AFOLU), Blue Economy, Industry and Manufacturing, and Waste.
