CAIRO – Egypt’s Environment Minister Yasmine Fouad discussed the climate finance in Africa in terms of challenges, priorities and implementation mechanisms.
This came during the minister’s participation in virtual sessions, which were organised by the Egyptian Centre for Economic Studies (ECES).
The sessions also tackled ways of formulating a unified African stance during the UN climate conference, COP27, which will be held in November in Sharm El-Sheikh.
African countries are facing severe liquidity challenges that make the mobilisation of resources for climate action difficult, added the minister.
The minister, meanwhile, pointed out to Egypt’s experiment in creating incentives for the private sector and the finance institutions.
The minister also pointed out to the launch of “Nouwfi” programme for financing and investing in climate projects in the water, food and energy sectors, as the first list of eco-friendly projects within the National Climate Change Strategy 2050.
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