Get acquainted with the international partners funding projects of Egypt’s National Strategy for Climate Change

CAIRO – 22 May 2022:  The most important financial partners that will fund the projects of Egypt’s 2050 National Strategy for Climate Change are multilateral development banks (MDBs), the World Bank, the Islamic Development Bank, and the African development Bank, revealed UN Resident Coordinator in Egypt Elena Panova in comment to Egypt Today on the sidelines of the launch of the National Strategy for Climate Change 2050 on May 19.

“The United Nations is not a donor. We are a catalyst and convener and neutral; we are capable of bringing partners together and leverage of expertise so these partners can work together,” she said

Panova added that the UN works very closely with those international partners and banks that fund projects under this strategy. “The [Egyptian] government is the biggest contributor to the funding. The UN brings technical expertise and a little bit of money, which is a catalyzer for innovative things.”

In a response to a question about the expected volume of money that could be brought from these institutions, she said that she has no idea, stressing that “nobody knows.”

During a penal session at the conference of the launch of the strategy, Panova praised Egypt’s efforts in climate change combating field and congratulated Egyptian Prime Minister Mosfata Madbouli on launching the strategy, saying “Egypt’s National Strategy for Climate change is a solid basis for sustainable development.”

Panova further stated that launching the strategy is a timely and encouraging step, as it tackles the management of the sustainable development and coincides with the United Nations Sustainable Development Cooperation Framework that helps shape the cooperation throughout its six agencies.

On May 19, Egypt launched its National Strategy for Climate Change 2050 to improve the citizens’ quality of life, enhance sustainable economic growth, and preserve its natural resources.

The government has allocated a financial package to set a number of projects in the fields of energy, transportation, agriculture, water, irrigation, and carbon reduction in the petroleum sector at a cost of about $211 billion for mitigation and $113 billion for adaptation to programs until 2050.

The five-point strategy tackles achieving sustainable economic growth by reducing CO2 emissions; adapting to climate changes with the country's ability to address this issue; governance framework of the state and society; improving the financial infrastructure; and improving scientific research and technology management, said Egyptian Minister of Environment Yasmine Fouad in her speech at the conference.