IFC and Orascom Development Egypt Collaborate on Green Tourism Initiative in El Gouna
November 27, 2024 - 04:08
IFC partners with Orascom Development Egypt through a $155M sustainability-linked loan to enhance energy efficiency, reduce emissions, and promote green tourism in El Gouna by 2030. This initiative aims to transform the Red Sea region into a model for sustainable tourism, aligning with global environmental goals. The funding will support various projects focused on improving infrastructure, implementing renewable energy solutions, and fostering eco-friendly practices in the tourism sector. By prioritizing sustainability, the partnership seeks to attract environmentally conscious travelers while contributing to the local economy and preserving the natural beauty of the area.
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