Cairo: The Ministry of Local Development and Environment in Egypt conducted a series of strategic meetings over two days with a delegation from the Green Climate Fund (GCF), led by Catherine Koffman, Africa Regional Director at the GCF in South Korea. The meetings were aimed at boosting international climate investments, as part of the ministry's responsibilities as Egypt's National Designated Authority (NDA) to the Green Climate Fund.

According to State Information Service Egypt, the discussions involved key figures such as Saber Othman, Head of the Central Department for Climate Change, and Mahitab el Ramal, NDA Focal Point for the GCF. Minister of Local Development and Environment Manal Awad emphasized that the visit was part of ongoing efforts to strengthen climate action and attract international investments for climate initiatives.

Othman highlighted the performance of existing projects financed by the Fund in Egypt, focusing on the agriculture and water sectors. The meetings also addressed the National Readiness Program proposal and priorities for accrediting direct access entities from public and private sectors, following recommendations from the National Green Climate Fund Committee meeting.

Reaffirming Egypt's commitment to climate action, the GCF delegation met with representatives from various ministries to discuss the status of institutional accreditation and the implementation of the 'Enhancing Climate Change Adaptation in the North Coast and Nile Delta' project. This project, co-financed by the GCF and implemented by the UNDP, benefits from a $31.4 million grant.

The discussions further explored developing concept notes and financing documents for the National Climate Investment Plan, targeting water and agriculture sectors. Opportunities for financing small, medium, and micro green projects were also considered in cooperation with the Fund.

The delegation engaged with representatives from 16 banks in Egypt, including major institutions like Attijariwafa Bank, the first to be accredited by the GCF, and others such as Commercial International Bank, African Export-Import Bank, and Islamic Development Bank. The meetings focused on utilizing climate finance to mitigate project risks, stimulate private investment, and introduced innovative financing tools for climate adaptation projects while discussing the accreditation of new banking institutions to the Fund.