A two-day training course on “Climate Adaptation and Resilience” was organised by the Ministry of International Cooperation and the European Investment Bank in collaboration with the Ministry of the Environment in front of representatives from the Ministries of the Environment, Foreign Affairs, Finance, Agriculture, Water Resources, Irrigation, and International Cooperation.
The general principles of adaptation, international financing for adaptation, and types of adaptation were highlighted in the training course delivered by European Investment Bank representatives concerned with adaptation issues. A review of examples of projects financed to achieve the principle of adaptation was also included.
In addition to soft development grants, the Ministry of International Cooperation is seeking to increase technical assistance efforts, training, and experience sharing through international collaborations. A training session on climate finance was organised in August of last year by the European Investment Bank and the Ministry of International Cooperation and the Environment.
Three training sessions were held in conjunction with the United Nations Economic Commission for Africa, the Climate Investment Funds, and the Global Network of Blended Finance on September 7 and 8, 2018, for the first time as part of the activities of the Egypt Forum for International Cooperation and Development Finance. The Egypt Forum for International Cooperation and Development Finance has adopted the stance that it is essential for African nations to exchange experiences while also bolstering technical support efforts, capacity building, and training in order to develop cadres capable of spearheading the continent’s efforts toward green transformation and all-encompassing sustainable development.
The European Investment Bank, the climate bank for the continent of Europe, and the Egyptian government have close ties in terms of development cooperation. In order to finance the list of green government projects in the areas of energy, food, and water, coordination is currently taking place in a number of active files, including taking part in the financing of the “Noufi” programme.
As part of Egypt’s preparations to host the climate summit, which will be held in Sharm El-Sheikh in November, and the national policy for combating climate change.
In addition, the Minister of International Cooperation, Rania Al-Mashat, visited the head office of the Luxembourg Bank in June, where the top management of the European Investment Bank was in attendance. This was the first high-level visit by the Bank to Egypt since the Corona pandemic. In July, Gelsomina Vigilotti, Vice President of the European Investment Bank, met with Al-Mashat.
It is important to note that the continuing development cooperation portfolio with the European Investment Bank, which consists of 16 projects in numerous development sectors, totaled nearly $3. 2 billion at the end of last June. The European Investment Bank has invested over 14 billion euros in Egypt since 1979, with 53% going to the private sector and commercial banks and 47% going to the government sector.
A training programme on “Financing Climate Adaptation and Resilience” is organised by “International Cooperation” and “European Investment Bank.”
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