The third Parliament session to discuss the 2024 draft state budget has kicked off, our correspondent reported on Thursday.
Source: National News Agency – Lebanon
International Cooperation Minister Rania el Mashat said on Thursday 25/1/2024 that the ministry had signed Egypt’s declaration of intent to join the Blue Mediterranean Partnership initiative, that aims at benefiting from funding opportunities for blue economy projects, during the activities of the UN Climate Conference COP28, where the Blue Mediterranean Partnership is considered Med Partnership is a joint platform for countries and international financial institutions that provides technical support for preparing and formulating projects and providing grants, within the framework of the Union for the Mediterranean Working Group for the Blue Economy.
Spain and Sweden, as well as the European Union, contribute to the initiative, and the European Investment Bank and the European Bank for Reconstruction and Development play a major role in it.
Mashaat stressed the existence of many international partnerships that would protect the ecosystem, including the support of the United States Agency for International
Development to the Egyptian government in its efforts to preserve the Red Sea as a sustainable tourist destination, through a contribution from the American government worth $15 million to implement the project. ‘Egyptian Red Sea Initiative’ which will be implemented through the United Nations Development Program (UNDP), and in cooperation with the United Nations Global Coral Reef Fund (GFCR).
The project aims to protect coral reefs in the Red Sea and the surrounding coastal ecosystem from the effects of climate change and human activity, in addition to empowering local communities to lead climate action. emissions, job creation; As well as strengthening partnerships with private companies and other donors to raise up to $50 million in total funding.
Source: State Information Service Egypt