As part of efforts to strengthen Egyptian-American investment relations, Karim Badawi, Minister of Petroleum and Mineral Resources, received a delegation from the US International Development Finance Corporation (DFC) to discuss opportunities for cooperation in the country’s energy sector, with a particular focus on renewable energy and the petrochemical industry.

During the meeting, Badawi highlighted Egypt’s sustainable energy strategy, which aims to diversify the country’s energy mix by increasing reliance on renewable sources, such as solar and wind power, as well as green hydrogen and ammonia projects. This strategic shift is expected to help reduce the country’s dependence on natural gas for electricity, reserving it for projects that provide greater economic value.

The DFC delegation, led by Benjamin Thomson, Minister-Counsellor for Economic Affairs at the US Embassy in Cairo, commended Egypt’s efforts to foster an attractive investment climate, stressing its commitment to supporting investment projects.

The meeting concluded with an agreement to continue monitoring and evaluating potential opportunities and to schedule further working sessions between both sides to discuss prospective projects in the petrochemical sector.

The DFC is a US government agency that invests in private-sector-led projects. Its priorities are focused on several key sectors, including energy, critical minerals, healthcare, infrastructure, and technology. The DFC supports these projects through direct investment, political risk insurance, feasibility studies, and technical assistance.