Green Climate Fund
Egypt’s Ministry of Water Resources and Irrigation is implementing vital national projects with a total cost of about LE1.80 billion covering the Mediterranean coast,
This step comes as a responding to the impact of the coronavirus pandemic on the Egyptian economy by boosting green finance and the development of value chains for the private sector.
The granted funds will be allocated for an eco-friendly dike system, a sheet of rock formed in a fracture of a pre-existing rock body, to create a 60km-long wall in front of the shores of Delta.
The Green Climate Fund (GCF) has agreed to grant 31.4 millions dollars to the Environment Ministry for establishing a project to improve the climate change.
Environment Minister Khaled Fahmy will open on Saturday the 18th meeting of the Green Climate Fund.
First two 50MW solar plants under the second round of the FiT have secured finance from the EBRD at $116 million.