Egypt moves steadily toward attaining green recovery: Finance min.

CAIRO - 12 February 2023: Egypt, under its wise leadership, is moving steadily toward attaining green recovery, said Finance Minister Mohamed Maait.

 

Egypt is working tirelessly to transform environmental challenges to promising green investments, he added during his participation in the Dubai-hosted session, titled "Managing Climate Risks and Opportunities: Fiscal Policy and Climate Change".

 

The session was held as part of the Seventh Annual Arab Fiscal Forum, which is currently being held in Dubai.

 

Egypt seeks to pave the way for greater private and local sectors involvement in the eco-friendly investments, added the minister.

 

The minister, meanwhile, said that Egypt has major competitive advantages and promising projects in energy generation from renewable and clean sources.

 

Additionally, the minister said that the very serious challenges arising from the intertwining of the negative effects of the coronavirus pandemic and the unprecedented consequences resulting from the war in Europe and climate change imposed unprecedented challenges, including supply chain disruptions and price hikes in food and fuel.

 

Egypt seeks to enhance the efforts of the regional and international institutions in providing soft loans for developing countries to cope with adverse impacts of the climate change, he further said.

 

The financial policies should motivate green projects, a matter which paves the way to build stronger economies in facing internal and external shocks, he added.