Egypt’s e-platform for environmental, climate investment to be gate for entrepreneurs, developers

Egypt’s e-platform for environmental, climate investment to be gate for entrepreneurs, developers
13 / 09 / 2023
بقلم Marwa Nassar - -

Egypt launched e-platform for environmental and climate investment in Egypt to be an e-gate for entrepreneurs, developers, financiers and investors.

The platform will also provide initial feasibility studies as well as needed information about investment opportunities in waste management, sustainable energy, eco-tourism, bio-based industries, agriculture and food production.

The platform – in both Arabic and English – will be a direct communication channel between the Environment Ministry, investors and all bodies concerned.

The platform was launched during the inauguration of Egypt’s first-ever Environmental, Climate Change Investment Forum which was held under the auspices of President Abdel Fattah El Sisi.

Environment Minister Yasmine Fouad and Swiss Ambassador to Egypt Ivon Bauman attended the event alongside a large number of ministers, officials, heads of various economic and monitoring bodies, and leaders of major companies operating in various economic domains.

During the inauguration, Prime Minister Moustafa Madbouli lauded the forum as one of the fruits of the 27th United Nations Climate Change Conference (COP27).

He said Egypt seeks to benefit from the forum in following up on the progress realized so far in implementing the COP27 recommendations, highlighting that Egypt is planning to share its experience at COP28 which is due to be held in the UAE.

He added that the forum heralds a new era of green investments, highlighting the state’s belief in the key role of the private sector in boosting green investments.

Madbouli highlighted Egypt’s efforts to promote green investment, especially with regard to applying environment sustainability standards in various projects included in the state budget with an aim to reach 100% green ventures by 2030.

He referred also to the first issuance of sovereign green bonds as a major step for localizing green and sustainable financing mechanisms in Egypt, highlighting Egypt’s launch of the National Climate Change Strategy 2050 and the updated plan for voluntary national contributions 2030  which estimated about $ 246 billion needed investments in mitigation and adaptation projects.

The premier also cited also Egypt’s projects for curbing the impact of climate change, topped by the Benban solar power plant, wind farms for generating electricity, water desalination stations, waste management projects, monorail, and electric express train.

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