European Investment Bank to Help Egypt Overcome ‘Scarcity of Resources’
The Egyptian presidency has sought to put water at the heart of climate action to overcome water scarcity and improve its resources.
Dr. Hani Sewilam, Egypt’s Minister of Water Systems, and Irrigation, inaugurated on Monday the COP27’s Thematic Day for Water, announcing the Action on Water Adaptation or Resilience (AWARe), an initiative that will focus on inclusive cooperation to address water related challenges and solutions across climate change adaptation.
Sewilam said that the international initiative was prepared in partnership with the World Meteorological Organization (WMO) and other international bodies, under the umbrella of a number of international coalitions such as the Water and Climate Coalition, the Adaptation Action Coalition, as well as the Marrakesh Partnership Climate Action Pathway Water.
Monday’s event was attended by Ambassador Ayman Amin Tharwat, Deputy Director for the Department of Climate, Environment and Sustainable Development for the Egyptian Ministry of Foreign Affairs, and Dr. Elena Manaenkova, Deputy Secretary General of WMO.
“The Global Water Crisis is affecting billions of people worldwide. The AWARe initiative will catalyze inclusive cooperation to address water as a key to climate change adaptation and its co-benefits, as well as enhanced resilience,” the minister said.
Meanwhile, the European Investment Bank plans to provide new financing to Egypt worth $1.5 billion, mostly focused on the water treatment sector, according to Gelsomina Vigliotti, the Bank’s vice president.
During an interview with Bloomberg, on the sidelines of the Climate Summit (COP27) in Sharm el-Sheikh, Vigliotti noted that the Bank would collaborate with the Egyptian government to link water, food, and energy projects in order to actualize a strategy that would be considerate of climate change in several aspects pertaining to the economy and the impact on the population.
She added that the bank would also work with Egypt in the transport and energy sectors, given their association with carbon dioxide emissions.
Sewilam said that the international initiative was prepared in partnership with the World Meteorological Organization (WMO) and other international bodies, under the umbrella of a number of international coalitions such as the Water and Climate Coalition, the Adaptation Action Coalition, as well as the Marrakesh Partnership Climate Action Pathway Water.
Monday’s event was attended by Ambassador Ayman Amin Tharwat, Deputy Director for the Department of Climate, Environment and Sustainable Development for the Egyptian Ministry of Foreign Affairs, and Dr. Elena Manaenkova, Deputy Secretary General of WMO.
“The Global Water Crisis is affecting billions of people worldwide. The AWARe initiative will catalyze inclusive cooperation to address water as a key to climate change adaptation and its co-benefits, as well as enhanced resilience,” the minister said.
Meanwhile, the European Investment Bank plans to provide new financing to Egypt worth $1.5 billion, mostly focused on the water treatment sector, according to Gelsomina Vigliotti, the Bank’s vice president.
During an interview with Bloomberg, on the sidelines of the Climate Summit (COP27) in Sharm el-Sheikh, Vigliotti noted that the Bank would collaborate with the Egyptian government to link water, food, and energy projects in order to actualize a strategy that would be considerate of climate change in several aspects pertaining to the economy and the impact on the population.
She added that the bank would also work with Egypt in the transport and energy sectors, given their association with carbon dioxide emissions.