The United States Agency for International Development (USAID) launched the expansion of an energy efficiency programme aiming to help small and medium enterprises (SMEs) reduce their energy costs.
Trade and Investment Team Leader with USAID in Egypt Jacinto Fabiosa said: “USAID is committed to working with the Egyptian people to increase energy efficiency in Egypt.”
“If firms can improve their energy efficiency, they can save on energy costs – and become more competitive, grow their business, and create more jobs,” he added.
USAID’s programme has helped business save between7% to 28% of their energy consumption.
“The programme expansion will improve environmentally sustainable production in the textile industry and increase competitiveness in international markets,” the USAID official statement added.
Budget allocations to subsidise electricity for FY 2014/2015 have been reduced to EGP 27bn, and the government hopes to raise electricity prices within five years. The government plans to increase usage of new and renewable energy to 20% Egypt’s total energy mix by 2020.
