Egypt calls for mitigating negative impact of climate change at first-ever climate week in Dubai

MENA , Ahram Online , Tuesday 29 Mar 2022

Egypt's Minister of Environment Yasmine Fouad asserted that world countries should determine their needs to mitigate the negative impact of climate change along with diversifying the funding tools of soft loans, debt exchange and loans to ease small and medium-scale projects.

Yasmine Fouad
Minister of Environment Yasmine Fouad participates during the Climate Week in the Middle East and North Africa, held in Dubai, UAE taken on Monday 28 March, 2022. Photo courtesy of the Egyptian Ministry of Environment Facebook page.

Fouad's comments came during the minister's participation in a seminar held on the fringe of the Climate Week in the Middle East and North Africa, held on March 27-31 in Dubai, UAE.

She also reviewed the mechanisms for creating a framework to support climate funding through expounding Egypt's experiment in new and renewable energy that has been carried out through several steps such as the electricity law, the localization of new and renewable technology as well as opening the market to the new and renewable industry.

Egypt is preparing to host the 2022 United Nations Conference of Parties on Climate Change Conference (COP27) in Sharm El-Sheikh this November.

Cairo has stressed it will place a priority on projects to mitigate the effects of climate change, including a focus on meeting the obligations of the Paris Agreement and exploring how the private sector and NGOs can play a role in financing green investments during the conference.

Egypt also stressed it will build at the COP27 on the outcomes of Glasgow's COP26 to move from the stage of climate pledges to actual action on the ground, whether in reducing emissions or financing climate-oriented projects in developing African countries.

Cairo has vowed to speak up for Africa's aspirations to cope with climate change at the COP27.

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