Svenja Schulze, Federal Minister for Economic Co-operation and Development (BMZ) of Germany, said putting the losses and damages file at the centre of COP27 is a real step forward.
As for climate finance, the German minister emphasised the need for more innovative solutions.
“The private sector, multilateral development banks (MDBs) and philanthropists can play major role in this regard,” she told The Egyptian Gazette.
During a session on loss and damage in the context of the humanitarian crisis in Pakistan, the minister said scientists had established a clear link between climate change and floods.
“The total cost of losses is estimated at $30 billion and 9 million people were thrust into poverty. Women and children suffer the most,” she said.
The Pakistan crisis is a real alarm to think of joint solutions, Schulze said, highlighting the need for a reliable system of social protection to address climate shocks.
“We need to stand together. We need to make sure that no country is left behind in the climate action. More financial solutions are needed to reach those who need it,” the German minister said.
Schulze has also visited the Integrated Management and Irrigation Improvement Project funded by the Federal Ministry for Economic Co-operation and Development in the village of Al-Bayda near Kafr El-Dawar.
The project will make irrigation more efficient and reduce water wastage.
The minister visited the Social Solidarity Unit in el-Amriya district of Alexandria which serves beneficiaries of the Takaful and Karama programmes.
Women represent 75 per cent of those in receipt of Takaful and Karama pensions.
