The Cairo Southern Zone Composting Project will avoid the generation of greenhouse gases caused by landfill, such as methane, which has 21 times the global warming potential of carbon dioxide.
Under the agreement, project developer Egyptian Company for Solid Waste Utilization (ECARU) will sell 325,480 tons of carbon dioxide equivalent greenhouse gas emission reductions to the Carbon Fund for Europe, which is managed by the World Bank.
On behalf of the World Bank, Mr. Emmanuel Mbi, Country Director for Egypt, Yemen and Djibouti signed the agreement with Dr. Hisham Sherif, President of Egyptian Company for Solid Waste Utilization (ECARU).
The signing ceremony was also attended by representatives of the local media.