CAIRO - 6 March 2022: Egypt's Minister of Environment Yassmine Fouad stated o Saturday that the country will focus on a group of projects targeting translating the international financial pledges to implementation at the upcoming UN Climate Change Conference 2022 (UNFCCC COP 27).
The minister's comments came during a joint press conference with CEO of the Green Climate Fund (GCF) Yannick Glemarec on the preparation for the UN Climate Change Conference 2022 (UNFCCC COP 27) due to convene in November 2022 in Sharm El-Sheikh.
The joint press conference was held at the Environmental Cultural and Educational Center (Cairo House) in Old Cairo. The CEO of the GCF, the largest fund financing projects that address climate change, is paying Egypt an official visit from March 6 to 9.
Glemarec’s visit targets enhancing cooperation between Egypt and the fund, amid Egypt’s completion of the preparation of the national strategy for climate change as well as the list of projects that can be proposed to be financed by the fund and that come in line with Egypt’s priorities during the coming period, said Fouad.
The Ministry of Environment is studying the proposals of the various national authorities that can be submitted to the National Council for Climate Change first, before being brought forward to the fund, added Fouad.
The GCF supports Egypt in a number of renewable energy and efficiency projects in the national and private sectors. The fund supports the Egyptian National Project for the Protection of the Delta and the Northwest Coast, at a cost of about US$32 million.
Fouad explained that the COP 27 climate conference will also focus on accelerating the pace of obtaining funds for climate projects in developing countries, especially African ones, and identifying international initiatives that Egypt can deliver in cooperation with the fund.
The minister of environment noted that the United Nations Environment Assembly (UNEA-5.2) held in Nairobi contributed to advancing international and multilateral environmental action in the disposal of plastic waste and dealing with chemicals and problems related to water and lakes,
In his speech, CEO of the Green Climate Fund Yannick Glemarec congratulated Egypt on hosting the COP 27 summit in Sharm El-Sheikh, saying he discussed with Minister of Environment Yassmine Fouad ways of green transition in energy and infrastructure to reach net-Zero carbon emissions, to ensure that all transitions in every single infrastructure project, such as roads and bridges, is climate-resilient.
He also added that the fund supports Egypt in the project "Enhancing Adaptation to Climate Change in the North Coast and Nile Delta regions in Egypt'' through a grant, saying that the project is vital for the whole community. He clarified that the project uses the sand dunes along the shores as protection from the increasing sea levels.
On the sidelines of the conference, Glemarec stated that the fund also supports the largest energy solar power plant in the world in the city of Benban, Aswan, revealing that he will visit, on Wednesday, the GCF-financed climate project to promote the resilience of Egypt’s Delta against the sea level rise.
Glemarec pointed out that the fund is working with the government of Egypt on strengthening the climate finance architecture for the country. “We are extremely satisfied with the cooperation with Egypt and we look very much forward to future cooperation,” he said.
Glemarec said that the GCF first studies the project to see how it would contribute its assistance; it could be in the form of investments or grants, etc, noting that the fund finances the initiatives that are submitted by countries.
Sun, Mar. 6, 2022
