Egyptian Minister of Planning and Economic Development Hala El Saeed reviewed the main steps taken by the Egyptian government as part of preparations for the UN climate conference (COP27) due to be held in November in the Red Sea resort of Sharm El Sheikh.
This came during the minister’s meeting with a delegation of the Egyptian-British Business Association ahead of their expected visit to London on a work mission titled “The Road to Narrowing the Gap between Implementation and Funding: COP27”.
The minister noted that the Egyptian government has formed a committee chaired by Prime Minister Moustafa Madbouli and the ministries concerned along with directing the Egyptian government’s attention to adopt eco-friendly projects and initiatives to achieve the objectives of COP27.
She also reviewed a number of green projects which were funded during the current fiscal year, whose percentage reached more than 30 percent of the total investment plan of the state. She noted that the government aims at increasing such projects to reach up to 50 per cent in the fiscal year 2024/2025.
El Saeed also underlined that the government is working closely with the private sector as it is a basic partner in the development plan and a creator for job opportunities that could improve the citizens’ conditions.
The minister also stressed the necessity of increasing investment chances in the fields of green economy, new and renewable energy as well as advanced technologies.
