Funding
President Abdel Fatah al-Sisi ratified Wednesday the agreement between Egypt and the French Development Agency (AFD) on financing the establishment of Abou Kir Metro in Alexandria.
The committee is concerned with financing arrangements pertaining to loss and damage through the fund founded during COP 27 to fulfill that purpose.
Minister of Planning and Economic Development and Chairwoman of The Sovereign Fund of Egypt (TSFE) Hala El-Said attended Wednesday the signing ceremony.
Minister of Foreign Affairs and COP 27 President Sameh Shokry co-chaired Monday the Copenhagen Climate Ministerial Meeting.
The ongoing portfolio of development cooperation for projects affiliated with the Ministry of Water Resources and Irrigation amounts to $668 million.
Those will be built by the UAE's AMEA Power.
This came in the light of multilateral cooperation efforts to support the State's development vision.
Chair of the African Union (AU) and President of Senegal Macky Sall said Monday most adaptation projects in Africa are funded through loans.
The meeting was attended by Egypt's prime minister, governor of the central bank, and the ministers of planning, finance, and international cooperation.
That was during a recorded speech at a roundtable on climate initiatives in Africa.
The Egyptian initiative includes holding five major regional roundtables.
Gamea noted that those entities created 2.5 million jobs.
Minister of Foreign Affairs and President Designate of COP 27 Sameh Shokry met Wednesday the African Group of Negotiators on Climate Change (AGN).
The COP 27 Champion pointed out that Africa’s contribution in emissions is just 3-4%.
Chargé D’Affaires at the U.S. Embassy in Cairo Nicole Shampaine stated Sunday that the United States had invested $80 billion in Egypt over the years
The minister presented some features of Egypt’s policies to face global economic crisis.
In addition, a mechanism is being devised to fund developmental projects in governorates by identifying developmental gaps in each, Said revealed.
UN Resident Coordinator in Egypt Elena Panova spoke to Egypt Today, saying "we are capable of bringing partners together and leverage of expertise so these partners can work together."
Those are African and European countries as well as some Asian, North American, South American and Caribbean countries.
The duration of those bonds is 19 years.
