World Bank (WB) Managing Director of Development Policy and Partnerships Mari Pangestu said on Tuesday 5/4/2022 the bank is keen to provide all means of support to Egypt during its presidency of the UN Climate Change Conference (COP 27) and to stimulate climate action-related efforts in Egypt and the African continent.
During her meeting with Minister of International Cooperation and Egypt’s Governor to the WB Rania el Mashat, Pangestu praised the International Cooperation Ministry’s efforts to activate innovative financing tools in Egypt.
The meeting was held within the framework of Pangestu’s visit to Egypt to hold a number of meetings as part of cooperation with the government given the country’s presidency of COP 27.
The meeting touched on the relevant international initiatives and efforts that would help achieve the message of COP 27.
The WB presented several proposals on cooperation with the government including implementing joint development projects and offering technical consultations at the national and regional levels.
Mashat said Egypt is working, as part of its COP 27 presidency, to promote climate action and green transformation efforts.
She added that Egypt has taken clear steps to support green transformation, highlighting the establishment of the National Council for Climate Change and the launch of the national strategy for adaptation to climate change in addition to identifying projects supporting green transformation in various sectors.
She also pointed out to Egypt’ climate action efforts to provide development financing for these projects in cooperation with the multilateral and bilateral development partners.
Source: State Information Service Egypt