UNCTAD urges stronger action to help least developed nations tap into carbon markets
The United Nations Trade and Development (UNCTAD) urged during the 29th United Nations Climate Change ...
Laafia: EU’s portfolio in Egypt of 1.2 bn euros focused on SDGs
Ibrahim Laafia, Head of Cooperation at European Union Delegation to Egypt, said the EU’s portfolio in Egypt of 1.2 billion euros is mainly allocated for achieving the Sustainable Development Goals (SDGs).
During the 12th Corporate Social Responsibility (CSR) and Sustainable Development (12th CSR Forum), he said the issues of sustainable development, climate, and green transition are figuring high in the agenda of the EU.
“We have been able to join forces with development banks and other institutions like the KfW for example in order to establish platforms and programs that will support decarbonization, reduction of pollution, and improving resource efficiency …in order to help industrial businesses and banking sector in this transition to be able to finance, ” he said.
“Providing this support and partnership, it is important to mention the technical assistance of the banks and capacity building of the banks, this something that is usually embedded in the thing that we do as EU,” he expounded.
“Having such partnerships, the EU makes sure of the sustainability of the financing when the program or the platform will be on work in the coming years,” he added.
“We cannot achieve climate change objectives if we do not have an overall development agenda that is hand in hand with what I need to do; in terms of education, health, business, governance or supporting civil society,” he said, referring to the EU’s support for the Egyptian government in this respect.
He gave an example of financial inclusion, “we cannot have adaptation or mitigation without having citizens that are completely covered by the financial inclusion and the EU is providing support to the Central Bank of Egypt (CBE) in order to make sure that the financial inclusion reform is taking place.”
He said the EU is supporting businesses as well as the government.
He added that a chunk of the EU portfolio goes to water desalination because this sector is contributing to the climate change adaptation.
He referred to cooperation with the Egyptian government in this respect, adding , however, that “we need more of the private sector to be there.”
He added that food security and energy efficiency are key issues which the EU is addressing.
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