Egypt, Germany co-operate in preparation for COP29, says minister

CAIRO – Egyptian Environment Minister Yasmine Fouad has stressed close co-operation with Germany in preparing for the COP29 in Azerbaijan.

Emerging from a meeting held on the sidelines of the 15th Petersberg Climate Dialogue earlier Sunday, Fouad said the file of financing climate is a key issue that should figure high at the 2024 UN Climate Change Conference.

Fouad underscored challenges facing developing countries, where financing adaptation and mitigation projects is concerned. Financing mitigation projects, in particular, is believed to increase the debt of countries, which are required to pay interest on those loans, the minister explained.

This also runs parallel with efforts by those countries to honour their commitment to plans to counter climate change and create decent and sustainable life for their peoples, Fouad added.