Egypt has secured a significant funding package of approximately $2.687 billion from the Green Climate Fund (GCF) to support several climate-related initiatives.
One of the key programs is the Greening Financial Systems initiative, which has secured $1.295 billion in funding. This program aims to enhance the capacity of Egyptian financial institutions to develop green financial products and facilitate access to affordable financing for low-emission projects in sectors such as energy, transportation, health, food security, and infrastructure.
Another significant program is the Smart Resilient Agriculture Investment Fund, which has received $130 million in funding. This initiative will support smallholder farmers in Egypt and other African countries by providing access to climate-smart agricultural technologies, financing, insurance, and extension services. The goal is to improve agricultural productivity and resilience to climate change.
Additionally, the Resilient Water Infrastructure Expansion Facility has secured $1.262 billion in funding. This program will invest in water infrastructure projects to improve water management, reduce water scarcity, and enhance climate resilience in the water sector.
By securing this significant funding, Egypt is taking a major step towards a sustainable and climate-resilient future. These programs align with Egypt’s ambitious climate goals, as outlined in its Nationally Determined Contributions (NDCs). The country is committed to reducing greenhouse gas emissions and adapting to the impacts of climate change, particularly in vulnerable sectors like agriculture and water.
