As part of his participation in the United Nations Glasgow Conference, Minister of International Cooperation Rania al-Mashad met with Vivek Padak, Director of the Climate Business Division of the International Monetary Fund, a World Bank Group. Kingdom held from October 31st to November 12th.
During the meeting, al-Mashad discussed development cooperation plans with the International Monetary Fund, one of Egypt’s most important multidisciplinary development partners, and praised the joint venture with the corporation, whose current portfolio in the health sector is $ 1.26 billion. The Corporation has financed Commercial International Bank in the areas of, Education, Manufacturing, Tourism, Infrastructure, Petroleum, Finance and other sectors to enhance coordination with government efforts to promote private sector growth. Egypt injects $ 100 million worth of private sector securities
Meetings chaired by the Minister of International Cooperation come into the framework of intensive interaction and coordination with multilateral and bilateral development partners, especially after the introduction of an integrated national plan by Egypt to discuss ways to enhance the country’s efforts towards climate change and climate change. Its preparations for hosting the conference in Sharm el-Sheikh in 2022 in its next edition adapted to climate change aimed at achieving it by 2050.
In the middle of this year, the World Bank Group announced a new program on climate change aimed at achieving record-breaking funding for climate change in countries, reducing emissions, improving adaptation and streamlining cash flows. Goals of the Paris Agreement. The 2021-2025 Action Plan expands the World Bank Group’s efforts to invest in “green” projects to enable countries to fully integrate climate and development goals.
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