PM: Egypt’s first-ever Environmental, Climate Investment Forum heralds new era of green investment

PM: Egypt’s first-ever Environmental, Climate Investment Forum heralds new era of green investment
12 / 09 / 2023
بقلم Marwa Nassar - -

Prime Minister Moustafa Madbouli said the launch of the first-ever Environmental and Climate Investment Forum (ECIF) in Egypt heralds a new era of green investments linking mitigation, adaptation, and climate financing.

He made the remarks during the inauguration of the 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.

The forum is organized in partnership with the United Nations Industrial Development Organization (UNIDO) through the “Inclusive Green Growth in Egypt” project, and is funded by the Swiss Agency for Development (SDC).

The forum highlighted UNIDO’s efforts in collaboration with the Egyptian government to achieve comprehensive and sustainable development in Egypt, transition to circular economy and realizing environmental sustainability in key industrial sectors.

Environment Minister Yasmine Fouad said the forum is part of Egypt’s pioneering role in protecting the environment, adapting to climate change and building on the outcomes of the 27th United Nations Climate Change Conference (COP27), especially through encouraging the private sector to boost green investments.

The forum will also encourage overtures for better green future in Africa and the whole world to move ahead towards COP28 due to be held in the UAE, she said.

Fouad noted that the forum will be held annually to be a key event for highlighting investment opportunities for the private sector to increase green investments, underlining that the forum is held within the framework of the ministry’s keenness on achieving the strategic sustainable development goals under Egypt Vision 2030.

She said the forum is meant to turn environmental challenges into investment opportunities and spreading the concept of green circular economy.

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