In a significant development, the European Commission, along with Germany's KfW and DEG, has inked a €300 million guarantee agreement to bolster sustainable urban development and green hydrogen investments in the Middle East and North Africa (MENA) region. This strategic move, supported by the European Fund for Sustainable Development Plus (EFSD+), is designed to empower KfW and DEG to finance projects that not only enhance energy efficiency and expand the use of renewable energy but also reinforce the resilience of urban infrastructure in the target region. Furthermore, the agreement will play a crucial role in supporting the production, storage, and distribution of green hydrogen, indicating a significant step towards a sustainable energy future. By aligning with the EU's broader strategic commitments such as the European Green Deal and the Global Gateway, this initiative is poised to unlock economic prospects while effectively addressing energy and climate priorities in the MENA region, signaling a positive outlook for the future of green hydrogen in the area.