International Cooperation Minister Rania el Mashat reviewed a presentation on Friday about ‘Sharm El-Sheikh Guide to Fair Finance’, which is being outlined in light of Egypt’s preparations for the UN climate conference, COP27.

Mashat was speaking during a roundtable on the guide in the presence of regional and international officials. ‘Sharm El-Sheikh Guide to Fair Finance’ aims to launch an international framework for climate action that can be implemented in developing countries and emerging markets to lure more investments in adaptation projects.

Mashat noted that over 70 regional and international development partners, institutions, banks, and think tanks took part in preparing the guide, pointing out that Africa only receives 5.5% of the climate fund in terms of a big gap between the government and private funds for climate action.

Source: State Information Service Egypt