Egypt-ICF asserts the role of PPP model in accelerating climate action in Africa

The vice chairman for banking and capital markets at Citi Bank asserted that public-private partnerships (PPP) can accelerate investments in climate action, adding that climate-related projects need to be supported with official tools.

He also called for utilising equity investors to invest intensively in energy projects in Africa to accelerate the green transition in the continent.

Chairman of the Tony Blair Institute for Global Change Tony Blair said that the Sharm El-Sheikh Guidebook for Just Financing is a practical tool for identifying the challenges caused by the climate change that affect the African continent, as well as show how to leverage public and private sector finances to mitigate and adapt to them.

“This guidebook is a practical and technical example of the leadership Egypt’s presidency and government are showing in the lead-up to the to the COP27. I want to congratulate Dr Rania A. Al-Mashat and the government for launching this guidebook,” said Blair.

“It is now about implementation” in terms of accelerating the climate action efforts, Blair asserted, as well as about fulfilling the developed countries’ financial commitments to developing economies for adaptation and mitigation.