Egypt receives $357M from Green Climate Fund: Environment Minister

CAIRO - 30 September 2017: Environment Minister Khaled Fahmy said that Egypt has been approved for two projects in the field of new and renewable energy with funding of $357 million, in a press statement Saturday.

Fahmy pointed out, on the sidelines of meetings of the Green Climate Fund in Cairo, that the Fund was created as a financing mechanism for the implementation of the United Nations Framework Convention on Climate Change (UNFCCC). It also transfers funds from developed countries to developing countries.

Fahmy noted that the 18th meeting of the Fund, which is held in Cairo, will discuss 16 projects, pointing out that Egypt does not interfere in the agenda of the meetings of the Fund, which will continue until October 2. “Our role is to only to host the meetings, but there is an official delegation representing Egypt,” he stated.

Held under the auspices of Prime Minister Sherif Ismail, the meeting is aimed at discussing several environmental projects in Asia, Africa, Latin America and other developing countries.

The Green Climate Fund is a fund established under the UNFCCC in 2010 to enable the developing countries to carry out projects in different environmental fields.