Thursday 25 February 2021
Last update on Thursday, February 25, 2021 At 10:48 AM
Egypt is working to build a green economy to reduce its vulnerability to climate change while relying on its natural resources to continue its development path. An initiative strongly supported by Japan.
Japan, through its international cooperation agency (JICA), has just allocated $ 240 million to Egypt to finance its green economy and the development of renewable energies in its territory. The funds from this cooperation agreement will also help mitigate the effects of climate change in the country.
Egypt put in place in 2016 a national strategy to promote the green economy. Focusing mainly on agriculture, water, energy and waste management, it includes 28 projects. It is implemented with the support of the Center for Environment and Development for the Arab Region and Europe and the United Nations Environment Program.
The country has set itself the objective of producing 42% of its energy from renewable sources by 2035. This component will also be the main beneficiary of the financial allocation. In addition, the country, which is faced with increasing water stress, has implemented initiatives to enhance its water resources.
Source Ecofin Agency
