In a significant move to boost the green transition in the Middle East and North Africa, the European Commission, KfW, and DEG have signed a joint guarantee agreement worth €300 million. This agreement aims to facilitate the green transformation of urban areas and support the development of the green hydrogen market in the region. The guarantee, funded by the European Fund for Sustainable Development Plus (EFSD+), will empower KfW and DEG to promote sustainable urban development, advance energy efficiency, enhance renewable energy sources, and bolster the resilience of urban infrastructure. The initiative will also focus on encouraging investments in green hydrogen production, storage, and distribution. By addressing critical needs in the Middle East and North Africa, this project aligns with the EU's strategic priorities such as the Global Gateway and the European Green Deal. Christiane Laibach, a member of the Executive Board of KfW Group, expressed excitement about this transformative initiative and highlighted the importance of green hydrogen in the region's energy landscape. Stefano Sannino, Director-General at the European Commission's Directorate-General for the Middle East, North Africa, and the Gulf (DG MENA), emphasized the positive impact of green energy investments on climate change mitigation and the citizens' quality of life. This initiative is expected to leverage the vast potential of green hydrogen in the region to drive economic growth and job creation. The European Fund for Sustainable Development Plus (EFSD+) plays a crucial role in supporting public and private sustainable investments in EU's partner countries. With a guarantee capacity of €39.8 billion globally for 2021 to 2027, EFSD+ provides grants and guarantees for investment projects through International Financial Institutions (IFIs). Overall, this collaborative effort represents a significant step towards promoting sustainable development, green energy solutions, and the advancement of the green hydrogen market in the Middle East and North Africa.