Currently, the ongoing financing portfolio for environmental projects in Egypt amounts to $260 million, focused on 4 projects
Minister of International Cooperation, Dr.Rania Al Mashat, and Minister of Environment, Dr. Yasmine Fouad, sat met earlier today to discuss a number of initiatives and implementation tools for national projects, climate change strategy, and opportunities for financing from development partners.
Both Ministers praised Egypt’s efforts towards Green Transformation as they coordinated efforts towards the upcoming climate change conference COP 27 in Sharm el Sheikh.
Related > AIIB approves financing worth $360M to Egypt to support recovery and reforms
Al Mashat emphasized Egypt’s hosting of the UN climate conference as boosting Egypt’s position in the region and Africa as a leader in green transformation efforts, noting the importance of coordinating the efforts of government agencies with civil society organizations and media, to ensure the success of the summit.
Fouad also pointed out the importance of the event, explaining that there are many opportunities for cooperation with international financial institutions to implement projects that can mitigate the effects of climate change in Egypt.
The state is making strong efforts to combat climate change and turn towards a green, sustainable economy and preserving environmental and natural resources, said Al Mashat, pointing out the continued coordination with the Ministry of Environment and other stakeholders to consolidate cooperation with development partners.
Related > MoICMin and Acting Director of EBRD talk green transformation
Al Mashat noted that the new launch of Egypt’s national plan to implement changes for combating climate change by 2050 opens up several opportunities for cooperation and coordination with development partners and international finance institutions, which would provide developmental funding to implement these plans.
Currently, the ongoing financing portfolio for environmental projects in Egypt amounts to $260 million, focused on 4 projects including efforts towards solid waste management and industrial pollution control.
Interested in learning more of Egypt’s multilateral relationships? Catch all Ministry of International Cooperation related news Here
The Ministry of International Cooperation is working on providing development funding from multilateral, bilateral development partners as well as technical support, to support state plans and priority projects, it noted.
