That is on the sidelines of Abu Dhabi Sustainability Week.
The announcement was made early on Sunday.
The AfDB's vice-president, Kevin Urama, stated in July that Africa was losing 5 percent to 15 percent of GDP per capita due to climate change.
El-Said explained that the main pillar of the initiative is developing the process of planning and designing economic policies that take into account climate change.
The minister added that Egypt – COP 27 president - would continue to observe the implementation of climate pledges until the UAE assumed the summit's presidency late in 2023.
COP 27 President and Minister of Foreign Affairs Sameh Shokry made the statements Thursday in the opening of Climate Solutions Thematic Day.
Minister of Foreign Affairs Sameh Shokry received Tuesday Iran's Vice-President and Head of the Environmental Protection Organization Ali Salajka on the sidelines of COP 27.
The speech was delivered at the opening of Gender Thematic Day within COP 27.
Daniel Fisher from the UK told Egypt Today that it is so important to keep the indigenous leaders in general, and indigenous women in particular, involved not only in side events but also in decision making meetings.
Morsy also stated the reasons Egypt launched the initiative.
Underscoring the negative impact of climate change on women, Morsi stipulated that the phenomenon is not gender neutral as women are more harmed than men in five areas.
The president's statements came at the opening of Gender Thematic Day taking place within the activities of COP 27 held in Sharm El Sheikh.
That was during his meeting with Minister of Foreign Affairs Sameh Shokry at COP 27.
The meetings were held on the sidelines of COP 27.
That was in his recorded speech at COP 27.
The agenda targets to empower four billion individuals worldwide to withstand the repercussions of climate change by 2030.
The chiefs of state of a number of developing countries presented their nations' struggle with climate change on Monday at COP 27 in Sharm El Sheikh.
“We won’t forfeit our climate commitments because of the Russian energy crisis,” Macron said.
"We have to change our ways of transportation, and living...Otherwise, we’re risking the planet’s health and prosperity," Eyring asserted.
The UAE will host COP 28 in Dubai in 2023.