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130218_Luxor-Egypt SECAP Final

implementation of its

implementation of its activities. Foreseen financing sources for the investments within the action plan 3.8.1.1 Financing from the national energy efficiency programme and renewable energies Governorates through the Ministry of Foreign Affairs (MoFAs) and Ministry of Investment and International Cooperation (MoIIC) can get direct access to funding agencies, but also can count on the support of additional resources coming from funding agencies through the Governorate Development and Lending Fund that connect Egypt negotiated supports with municipalities presenting specific projects. Egypt is one of the nations receiving the highest level of aid. The international community offers grants and loans to Egypt’s Government. Entities that provide aid can be categorized in seven groups: Arab nations, the European Union, the United States, and Japan, as well as international institutions - IFIs (including agencies of the UN system), European countries and Gulf States 10 . 3.8.1.2 Funding the energy sector Throughout the modern history of Egypt, most energy projects have been funded by international aid. Such aid usually comes from donors seeking to improve the security and stability of the Egypt energy sector. The EU, Germany, Italy, France, Greece, Spain, the Word Bank and IMF have provided support to reform the institutions and regulations in the sector. Some new grants for sustainable energy and sustainability actions include the EU’s SUDEP grant for local governments and municipalities, as well as the Word Bank’s recently created Trust Fund programme, a funding assistance mechanism. The European Union, along with the Word Bank Group – International Finance Corporation (IFC), issued programmes for knowledge products and grants for the fiscal year 2016 focusing on municipal services, energy, water and solid waste management. 3.8.1.3 Energy Efficiency Fund Legal basis for Energy Efficiency (EE) and Energy Savings (ES) targets in Egypt are based on a drafted law and National Energy Efficiency Strategy (NEES) 2000; savings are anticipated to be 15 per cent by 2030 11 . According to MED-ENEC report, EE in the building sector in the MENA region is primarily funded through governments and the international donor community but far less fund is offered by local commercial banks. 3.8.1.4 Application and awarding process Each grant has a unique set of requirements and application process. Generally, however, the first step includes the submission of concept notes and after an initial agreement; the potential beneficiaries submit a full proposal. Most often, grants are awarded based on the number of people, who will benefit from such grant as well as the sustainability and lasting impact of the proposed project. 10 The Ministry of Investment and International Cooperation, MoIIC – Available at: http://www.miic.gov.eg/Front/Cooperation/DevPartnerList.aspx - (Accessed on: 14.08.2017) 11 Energy Efficiency Building Code, a Roadmap for Implementation in the MENA Region, September 2013, MED-ENEC – (Accessed: 20.08.2016). 28

Financing the SECAP The Governorate should identify all of the potential funding sources for the investments to be made within the framework of the SECAP. One of the principle issues for a successful strategy is the Governorate’s ability to finance ambitious energy management and renewable energy projects. The traditional systems of public and private funding may not be able to adapt to the new projects that come out of the SECAP. As a result, new and innovative finance mechanisms will be needed. It will be necessary to innovate by mixing loans, subsidies, third party financing, cooperative solutions and private funds, etc. Guaranteeing the funding of the SECAP’s actions is the most critical step. The Governorate cannot finance the entirety of its SECAP from its annual budget and will have to turn towards external funding at the national and international level. There are additional benefits to attracting external funding, including: • The involvement of various actors in the SECAP’s implementation helps to create a local, or even regional, sustainable energy market where actors can participate as suppliers, installers or users; • The engagement of local actors is a gage for the socio-economic integration of sustainable energy; • The cooperation with international backers gives more visibility to local actions and attracts greater investment and funding in case of success. It also encourages local deciders to support the projects and actions undertaken in the framework of the SECAP. 29

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