Al-Mashat: Egypt aims to provide funds for climate adaptation projects from COP27

Rania Al-Mashat, Minister of International Cooperation, said that the Egyptian presidency of the COP27 climate conference sets two main goals for the upcoming summit in Sharm El-Sheikh, the first of which is to stimulate the transition from the stage of pledges to implementation, by transforming what the international community, international financial institutions and the private sector pledged during the conference. Climate change in Glasgow last year, to realistic measures and implementation measures, and the second goal is to stimulate adaptation and resilience efforts through financing adaptation projects to climate change.

This came during the participation of Dr. Rania Al-Mashat, Minister of International Cooperation, in the high-level round table organized by the United Nations Capital Development Fund (UNCDF), in cooperation with the international non-profit Rockefeller Foundation, which was held within the activities of the 77th session of the United Nations General Assembly in New York. In which many representatives of international financial institutions and United Nations organizations participated.

In her speech, Minister of International Cooperation, Dr. Rania Al-Mashat, stressed the Egyptian government’s strong relations with all development partners, whether multilateral or bilateral, which enhance efforts to achieve sustainable development goals and support the national development vision and the transition to a green economy.

Al-Mashat added, in a press statement, today, Friday, that under the umbrella of national efforts to support climate action and move from pledges to implementation, the Ministry of International Cooperation, in cooperation with national authorities, launched the national platform for green projects, the “Noufi” program, which includes a group of projects with Priority in the water, food and energy sectors, under the umbrella of the national strategy for climate change, and projects vary between adaptation and mitigation efforts with the repercussions of climate change.

The Minister of International Cooperation indicated that the program aims to provide soft development funds, technical support, technology transfer, and stimulate investments from the private sector.

In addition – according to the Minister of International Cooperation – the Sharm El-Sheikh Guide to Fair Finance is being prepared, which enhances cooperation between the various relevant parties to develop a framework that enhances climate finance, pointing out that the common denominator in all these efforts is that it is led by the state and according to its priorities, which enhances its efforts to achieve The National Development Vision 2030, and that it is also characterized by the close interrelationship between climate and development as two main axes for a just transition in any country.

Al-Mashat spoke about climate action efforts through debt exchange, and the importance of expanding these tools based on successful experiences in this regard, noting that Egypt has two pioneering experiences in this field with Germany and Italy.

Rania Al-Mashat, Minister of International Cooperation, is participating in the meetings of the 77th session of the United Nations General Assembly, which is being held in New York, under the slogan “Solutions through Solidarity, Sustainability and Science”, amid unprecedented global repercussions due to the Russian-Ukrainian crisis, and the economic effects of the Corona pandemic, where she discusses The meetings dealt with a number of important issues that concern the international community, on top of which are food insecurity, the energy price crisis, and global supply chain disruptions.

It is worth noting that the Ministry of International Cooperation, in cooperation with the Ministries of Foreign Affairs, Finance and Environment, and the United Nations Economic Commission for Africa, organized the Egypt-ICF2022 Forum, in its second edition, and the meeting of African Ministers of Economy, Finance and Environment, under the auspices and presence of President Abdel Fattah El-Sisi. , where it witnessed a high-level international and regional presence from United Nations organizations, heads of international financial institutions, and the private sector. With the participation of more than 23 African governments, about 20 discussion sessions, workshops and round tables were held on unifying messages and visions, to mobilize the efforts of the international community to support the climate agenda in the continent of Africa, and to prepare for the “Finance Day”.

Scroll to Top