Egypt aims to increase its investment in green projects by 30% during 2021/2022

CAIRO – 14 March 2021: Public investments directed to green projects are planned to increase from 15 percent in fiscal year of 2020/2021 to 30 percent in the fiscal year (2021/2022) plan, according to Minister of Planning Hala El-Said.

El-Said stressed the importance of taking practical steps to implement the "environmental sustainability standards" guide, by spreading the culture of sustainability, and defining mechanisms for monitoring performance indicators for all sectors.

She clarified that this comes to measure progress in the set goal through the implementation of priority projects and activities in funding, with a positive impact on the environment, in addition to following up the process of implementing the standards contained in the guide, to ensure that the achievements are monitored as well as to identify the challenges facing the ministries and relevant authorities, to provide the necessary support to them.

This came during the Ministry of Planning and Economic Development organizing a workshop, via videoconference technology, to discuss the operational steps to start implementing the "Guide to Environmental Sustainability Standards: The Strategic Framework for Green Recovery" in cooperation with the Ministry of Environment, and with the participation of a large number of representatives of the ministries and relevant authorities.

For her part, Minister of Environment, Yasmine Fouad, confirmed that the Environmental Sustainability Standards Manual is the fruit of environmental work efforts in Egypt, starting with environmental monitoring, data analysis, measuring environmental indicators and all tools for protecting the environment, and ending with setting standards, requirements and guidelines for integrating environmental dimensions in all sectors and economic activities.

Fouad explained that this guide is considered one of the most important and successful green transformation methodologies chosen by Egypt to achieve sustainable development, which is based on greening the state budget plan, and it is a methodology that overcomes the most important challenges of this transformation, which is to provide the necessary financing for the implementation of green projects, planning for productive or service projects, or developing And reconcile the status of existing projects to comply with environmental standards.

She commended the partnership and cooperation with the Ministry of Planning and Economic Development for the issuance of this guide, which believes in the importance of natural capital in Egypt and the imperative of planning and providing financing for the transformation of the green economy to protect and improve the Egyptian environment in fulfillment of the right of citizens and future generations to a decent life and the ecosystems based on providing their services in a sustainable manner.