Sea level rise is symptom of climate change..with environmental, economic, social impacts
Sea level rise is a symptom of climate change as it has wide-reaching implications not ...
Mashat: Green transformation, climate finance systems are key part of strategies with int’l partners
Minister of Planning and International Cooperation Rania Mashat said the ministry is working to implement joint strategies to expand climate financing for the public and private sectors, stressing that the green transformation and climate financing systems are a key part of the joint strategies with various international partners.
She explained that several European institutions contributed to preparing the “Sharm El-Sheikh Guidebook for Just Financing”.
Mashat made the remarks during a meeting with Head of the European Union (EU) Delegation to Egypt, Christian Berger.
The talks tackled a number of mutual work files, within the framework of the strategic partnership between Egypt and the EU. A key part of the discussions was dedicated to enhancing climate finance strategies and preparations for the COP29 Climate Conference, in continuation of the efforts made with development partners to move from pledges to implementation.
Mashat stressed that the meeting with the EU comes within the framework of meetings that will be held with development partners as a part of the Ministry of Planning, Economic Development and International Cooperation efforts to support government ’s commitment to achieve economic and social development, setting priorities in line with Egypt’s vision and government’s program for the next three years, enhancing the role of development partners in providing financing to the private sector, and implementing structural reforms.
The meeting also discussed developments in cooperation with the European Union in implementing the country platform for the Nexus of Water, Food and Energy (NWFE) program, through a grant signed during the climate conference worth €35 million to support Egypt’s efforts in the energy pillar of the program.
This is in addition to cooperation within the framework of supporting the government’s efforts to encourage investments in the field of green hydrogen.
Mashat pointed out that a memorandum of understanding was signed on a strategic partnership between Egypt and the EU at COP27 to cooperate in the production of green hydrogen and its derivatives, adding that the ministry is currently coordinating with the EU in the water pillar through the project “Enhancing Adaptation to Climate Change in the North Coast and the Nile Delta” by providing technical assistance.
The meeting addressed the most prominent financing agreements signed by the Ministry during the investment conference between Egypt and the European Union; at the regional and bilateral levels, the most prominent of which included a memorandum of understanding on “total financial assistance”, the “EU4YES – EU Support for Youth Employability and Skills in Egypt”, in addition to the “Green Sustainable Industry” program and others.
The meeting also discussed preparations for the COP29 Climate Conference in Azerbaijan, and building on the efforts made in the past two editions, whether through the launch of the “NWFE” program, and the Sharm El-Sheikh Guidebook for Just Financing, as one of the initiatives adopted by the Egyptian presidency of the COP27 Climate Conference, to enhance just climate financing efforts.
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