Planning, environment ministers probe mechanisms of green economy transformation

CAIRO - 13 July 2020: Ministers of Planning and Environment Hala el Saeed and Yasmine Fouad on Monday discussed the mechanisms of transformation towards green economy as well the rules of tendering green bonds.

During today’s video-conference meeting, a consensus was reached on implementing 30 percent of investment projects in line with the goals of achieving environmental sustainability and the green economy, Saeed said.

She added that the size of these projects is set to be upped to reach 100 percent throughout the coming three years.

In a statement issued by the Planning Ministry, Saeed affirmed the importance of conformity of criteria outlined by ministries while drawing up the mid-term or annual plans with those of the Environment Ministry, including the international agreements and local updates.

Guidelines of commitment to the environmental criteria in the state’s various sectors are detailed in a guidance jointly issued by the ministries of planning and environment, Saeed said, adding that the guidance is set to be distributed shortly to all the ministries.

Attaching significant importance to the green economy and sustainable finance reflects a positive image about the state and all its institutions, Saeed added.

Meanwhile, minister Fouad reviewed the environment criteria that should be taken into consideration while carrying out the investment projects. 

The meeting touched on the green bonds which are set to be tendered by the Finance Ministry to finance environment and climate change projects, the statement noted.