Egypt receives US$10.3 billion in green funding during COP27

Egyptian President Abdel Fattah al-Sisi followed up on the results of the World Climate Summit COP27, which was held recently in Sharm el-Sheikh, with regard to mobilizing concessional development funds for the benefit of the national platform for green projects “Novi”.

The funding totaled around US$10.3 billion through agreements and funding packages for government sectors from multilateral development partners within a bilateral framework.

These aim to implement a number of national projects as part of the Novi program, including water, food and energy, in addition to the transport sector.