Egypt's Envi. Minister joins GEF meeting to establish global fund for biodiversity

CAIRO - 20 April 2023: Egyptian Minister of Environment Dr. Yasmine Fouad, participated via video conference technology in the consultative meeting of the Global Environment Facility (GEF) Council on the establishment of the Global Framework Fund for Biodiversity, to discuss the draft document establishing the fund.

 

During her speech, Dr. Yasmine Fouad, Minister of Environment, praised the efforts done by the team to complete the task of presenting a draft document for establishing a new fund to finance the global framework for biodiversity.

 

It is the first proposal to be submitted for discussion, and work will take place during the coming period through a consultative process to reach the most appropriate formula that can be agreed upon about creating this fund.

 

The Minister of the Environment indicated that the idea of establishing the fund is one of the decisions resulting from the COP15 Conference on Biological Diversity in Canada, to achieve the goal of reaching the Biodiversity Fund by 2030.

 

Financing is an essential tool for achieving the agreed goal in the post-2020 global biodiversity framework, as the Global Environment Facility assumed the task, preparing a proposal to establish the fund.

 

The minister pointed out the need to achieve a balance in the representation of developing and developed countries in the fund to harmonize between those who provide funds and those who are rich in biodiversity and face the challenge of preserving their natural resources to ensure their access to the required funds.