The Green Climate Fund (GCF) has approved $2.687 billion in funding for climate-focused initiatives across multiple countries, including Egypt. The funds will support programs such as the Greening Financial Systems initiative, the Smart Resilient Agriculture Investment Fund, and the Resilient Water Infrastructure Expansion Facility, according to Daily News Egypt.
During the GCF’s Board meeting in Incheon, South Korea, Egypt’s Environment Minister, Yasmine Fouad, highlighted that the Greening Financial Systems program, developed in collaboration with the European Bank for Reconstruction and Development (EBRD), has secured up to $1.295 billion. This includes $200 million directly from the GCF, benefiting 14 countries across Asia and Africa. The initiative will provide development loans, guarantees, and $100 million in technical support to foster green financial products and sustainable development in alignment with the Paris Agreement.
Additionally, the GCF approved the Smart Resilient Agriculture Investment Fund for implementation in 10 African nations, including Egypt, with $130 million allocated to support smallholder farmers with climate-adaptive tools, innovative insurance options, and access to resilient agricultural resources. This program aligns with Egypt’s 2050 National Climate Change Strategy by promoting water conservation, hybrid crop production, and biodiversity protection to enhance agricultural adaptability.
Lastly, the Water Resilient Infrastructure Expansion Facility will provide $1.262 billion, including $258 million from the GCF, to fund infrastructure projects in 14 countries, improving climate resilience through grants and soft loans aimed at water resource management.
