Egypt’s Minister of Environment Yasmine Fouad held a press conference on Sunday with Yank Gilmaric — the CEO of the Green Climate Fund (GCF) — who is visiting Egypt from 6 to 9 March.
The press conference came as part of Egypt’s preparations to host the 27th Conference of Parties on Climate Change (COP 27) in Sharm El-Sheikh this November.
Gilmaric’s visit to Egypt aims to strengthen cooperation between Egypt and the GCF, especially in light of preparations to implement the national strategy for climate change and the list of projects that can be submitted for financing through the fund in accordance with Egypt’s priorities during the coming period.
During the press conference, Fouad stressed the importance of Gilmaric’s visit before COP 27, as the importance of this visit stems from the fact that the GCF is the largest fund that finances projects to address climate change.
The minister explained that cooperation between Egypt and the fund is represented by a number of international organisations and the UN, pointing out that the most important areas of cooperation between the two parties include new and renewable energy and energy efficiency projects.
She added that both areas support the involvement of the private sector as well as the existing cooperation between the two sides, such as the National Project for the Protection of the Delta and the project financed by the fund for the Protection of the Northwest Coast, which costs about $32m.
Furthermore, Fouad said that a number of important issues were discussed with Gilmaric, such as integrated management projects for the protection of beaches, energy, and waste issues, as well as the Decent Life Presidential Initiative.
She further noted that the meetings in Nairobi, Kenya, last week contributed to advancing international and multilateral environmental action in the areas of disposal of plastic waste and dealing with chemicals and problems related to water and lakes.
For his part, Gilmaric clarified that the fund is the largest financing tool in the world and focuses on transformation in four sectors, including the energy and climate sector in the comprehensive and broader sense, in addition to the infrastructure sector.
He added that the aim of these procedures and interventions is to support the fund to confront and address the negative impacts of climate change and achieve transformation in several other areas, pointing out that the purpose of his visit is to discuss with Egyptian officials and the government how the fund can provide the necessary support to Egypt during its hosting and presidency of COP 27.