Egypt, Grantham Research Institute discuss outlining framework for innovative climate funding

CAIRO, March 11 (MENA) - International Cooperation Minister Rania al-Mashat discussed on Friday with officials of the Grantham Research Institute on Climate Change and the Environment of the London School of Economics ways of cooperation on Egypt's host of the UN COP27.

During her current visit to the UK, Mashat tackled the institute's participation in the International Cooperation Ministry's initiative to outline an international framework for an innovative fund that would enhance the climate fund and support the green transition.

Mashat was holding a meeting with Director of the Grantham Research Institute Professor Elizabeth Robinson and Distinguished Policy Fellow and Lead on Governance and Legislation at the Grantham Research Institute Alina Averchenkova.

Mashat said the meeting touched on offering development funds and technical support for the adaption projects to mitigate the ramifications of climate change, as well as encouraging the private sector to fund these projects through risk reduction tools.

The minister pointed to the total funding from multilateral and bilateral development partners in 2021 amounted to drls 20 billion over the two years, despite the circumstances imposed by the coronavirus pandemic.

Meantime, the institute officials expressed their readiness for cooperating with the International Cooperation Ministry to enhance the climate work, in light of Egypt's expertise in international cooperation and development financing to be transferred to South Countries.