Egypt’s Minister of Environment, Yasmine Fouad, met with a World Bank mission in Cairo to discuss the latest developments in cooperation in the field of the blue economy.
The meeting addressed the implementation of a technical assistance project in developing a national strategy for a flexible blue economy for Egypt, with the support of the PROBLUE trust fund of the World Bank. The aim of the meeting was to discuss the project’s mechanisms, work plan features, and agree on the next steps.
During the meeting, Fouad emphasized that the blue economy is one of the mechanisms Egypt seeks to adopt in its green transition. This transition is based on integrating environmental dimensions into various national policies and development aspects, and promoting environmental investment.
Fouad also discussed the strategic, institutional, and technical activities proposed through the project and the planned activities. She stressed the need to inform the bank’s mission of the efforts made in the field of integrated coastal zone management. Additionally, she drew attention to Egypt’s interest in expanding ecotourism, which is one of the most important pillars of the blue economy.
Representatives of the World Bank stressed that the project’s objective is to prepare a national strategy for a flexible blue economy to achieve economic and social development in coastal areas that take into account environmental dimensions. The project relies on specialized planning in the marine environment and highlights the economic return to the state and the most appropriate development mechanisms.