MDBs collective climate financing contributions set to hit $170 bn by 2030
The annual collective climate financing contributions from the group of multilateral development banks (MDBs) is ...
Japan, UNIDO to extend $3.5m grant to Egypt to back circular economy
Japan and the United Nations Industrial Development Organization (UNIDO) signed an agreement on extending a $ 3.5 million grant to Egypt to promote circular economy.
Ministers Dr. Rania El Mashat of International Cooperation, Yemine Fouad of Environment and Nevin Gamea of Trade and Industry witnessed the signing of the deal.
The grant will support Egypt’s vision in achieving a circular economy through the implementation of a project that aims to reduce the usage of single-use plastic bags, and eliminate waste by encouraging recycling. The project will be carried out in collaboration with the private sector, and Small and Medium-sized Enterprises (SMEs).
The agreement comes within the Ministry of International Cooperation’s development framework which seeks multilateral and bilateral partnerships with the different government entities to carry out the national development agenda that is in alignment with the UN Sustainable Development Goals (SDGs).
El Mashat indicated that the project is in alignment with the UN SDGs, namely SDG 12: Responsible Consumption and Production, SDG 13: Climate Action, SDG 14: Life Below Water, and SDG 15: Life on Land.
She emphasized the Ministry’s keenness on providing the necessary development funds to implement projects in support of the transition towards a green economy, while promoting resilient recovery and sustainable infrastructure.
The Minister said that the current portfolio of cooperation between Egypt and Japan is characterized by its diversity in many fields that are of high priority for Egypt and its national agenda, especially the sectors of education, transportation, health, water resources, tourism and aviation.
Egypt and Japan share a development portfolio worth $2.8 billion, with more bilateral cooperation programs in the horizon between the two sides, aiming to enhance efforts towards the achievement of the SDGs in Egypt.
El Mashat explained that the Ministry focuses on securing development funds for the environment sector. In the current development financing portfolio of environmental projects, there are four projects amounting to $260 million; this includes a solid waste management and industrial pollutants control project that is implemented in partnership with the World Bank, European Investment Bank (EIB), Agence Française de Développement (AFD), European Union, and Italy.
The Minister applauded the role of UNIDO in supporting the implementation of projects that achieve well-rounded sustainable growth, increase job opportunities, and achieve environmental sustainability, in cooperation with all stakeholders.
El Mashat also pointed out the strategic relations between Egypt and the UN, which confirm the country’s firm commitment in multilateral cooperation towards achieving the SDGs.
Environment Minister Yasmine Fouad stressed the importance of raising awareness and closing the financing gap for SMEs by providing them with support and financing incentives in order to find alternative to the plastic bags.
Fouad pointed out that there are several pioneer and youth-led companies, such as Bedara, Banlastic, and WeCare, that have established projects to limit the use of single-use plastic bags.
The Ministry of Environment prepared technical studies in partnership with the Center for Environment and Development for the Arab Region and Europe (CEDARE), and in support of the European Union (EU), to assess the situation in Egypt. In regards to the legislative side, and in cooperation with the Ministry of Trade and Industry, Fouad explained that an article has been added to the waste laws to address limiting the production and consumption of single-use plastic bags.
Japanese Ambassador to Cairo Masaki Noki said, “It is with great pleasure that I announce this important project, in collaboration with three Egyptian female ministers. We aim to preserve the Nile River and the seas by reducing plastic pollutants, strengthening the green economy, and supporting Egypt’s efforts aimed at sustainable growth.”
Dr. Basil Al Khatib, Regional Director of the UNIDO, stressed the importance of the project in preserving the environment, supporting climate action, reducing plastic pollutants, and promoting green transformation. Al Khatib also thanked Japan for its continuous contributions and cooperation with the organization to push for sustainable development.
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