Egypt has mobilised EUR 688 million, approximately USD 810 million, through the Global Green Bond Initiative in support of its National Climate Change Strategy 2050, the Ministry of Environment announced. The programme is backed by the European Investment Bank and the United Nations Development Programme.
The programme is projected to reduce greenhouse gas emissions by 10 million tonnes of carbon dioxide equivalent and deliver adaptation benefits to 8.3 million people across the countries benefiting from the initiative.
PROGRAMME FOCUS
The initiative focuses on strengthening climate finance infrastructure and developing innovative adaptation financing mechanisms aligned with the targets set out in Egypt's National Climate Change Strategy 2050.
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