Egypt Mobilizes €688 Million from Global Green Bonds Initiative to Support National Climate Change Strategy 2050

Charissa Swanepoel
4 Min Read

Cairo: SiltaNews – News Desk

Dr. Manal Awad, Minister of Local Development and Acting Minister of Environment, reviewed a 2025 report highlighting the Ministry of Environment’s climate action efforts, including the Green Climate Fund’s approval of a $200 million Novastar Investment Fund and a $50 million equity allocation to Egypt for climate technology investments. Awad highlighted that, in its capacity as the national authority for the Green Climate Fund, the Ministry of Environment successfully mobilized €688 million through the Global Green Bond Initiative, financed by the European Investment Bank and the United Nations Development Programme.

This funding supports the implementation of Egypt’s National Climate Change Strategy 2050, particularly efforts to strengthen climate finance infrastructure and promote innovative financing mechanisms with a focus on adaptation. The program is expected to reduce 10 million tons of carbon dioxide equivalent emissions and benefit 8.3 million people through adaptation measures across participating countries. The report also addressed Egypt’s engagement in international climate negotiations, including meetings and discussions held during the 30th session of the United Nations Framework Convention on Climate Change (COP30), which took place from November 10 to 21, 2025, in Belém, Brazil.

Representing President Abdel Fattah El Sisi, Dr. Awad participated in negotiations within the African and Arab Group, as well as the Group of 77 and China, focusing on emissions reduction, climate adaptation, capacity building, technology transfer, and climate finance. The report further noted her participation in the Ninth Ministerial Meeting on Climate Action in Canada. On national commitments, the report announced the completion of the final draft of Egypt’s third update to its Nationally Determined Contributions (NDC 3.0). It also highlighted Egypt’s diplomatic efforts to advance global climate action, including high-level meetings to promote adaptation priorities, climate finance, and climate justice for developing countries.

In addition, Egypt has finalized its first transparency report and its fourth national communication, which is currently undergoing approval prior to submission to the UN Framework Convention on Climate Change. Work is also underway on Egypt’s National Adaptation Plan (NAP), aimed at strengthening national and institutional capacities, identifying priority adaptation needs, and integrating them into planning and budgeting processes. Dr. Awad explained that a digital monitoring, reporting, and verification (MRV) system is being developed in cooperation with the World Bank and the German Development Cooperation (GIZ).

She also noted the Ministry’s participation in the 62nd session of the Intergovernmental Panel on Climate Change (IPCC) in China, which reviewed the framework of the seventh assessment report, scheduled for release in 2029, along with related reports on climate change, cities, and methodologies. Several national experts were nominated as authors and reviewers for chapters of the upcoming synthesis report and the three IPCC working groups. The Minister added that 18 ministries and entities have so far established climate change units, supported by specialized training programs to build capacity among government employees. A memorandum of understanding was also signed with the Slovak Republic to enhance cooperation on environmental protection and climate change.

On ozone layer protection, the report noted that the Ministry’s Ozone Unit issued environmental approvals for the customs release of 336 tons of methyl bromide, in coordination with the Agricultural Pesticides Committee and the Central Administration for Agricultural Quarantine. The Ministry also supervised the establishment of three after-sales service training centers at El-Araby and Miraco air conditioning companies. In addition, 42 training courses were conducted on best practices for the maintenance and repair of refrigeration and air-conditioning equipment, including a program that trained 28 engineers and technicians from several African countries.

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