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Egypt’s NWFE initiative receives over $10bn during 1st week of COP27

Egypt’s NWFE initiative receives over $10bn during 1st week of COP27
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Cairo – Egypt: The first week of the 2022 United Nations Climate Change Conference (COP27), taking place in Sharm El-Sheikh city under the theme of "Together For Implementation", witnessed extensive bilateral exhibitions and meet-ups for the Egyptian Ministry of International Cooperation.

These gatherings come within the framework of enhancing cooperation with the international community to mobilise climate finance to Egypt’s initiative Nexus on Water, Food and Energy (NWFE), Ahram Gate reported. 

With the presence of Egypt’s Prime Minister, Mostafa Madbouly, partnership agreements and letters of intent signed with development partners as part of the NWFE programme were unveiled with a value exceeding $10 billion. 

The funds aim to implement the National Strategy for Climate Change. The strategy was praised by the international community for being a national model and a comprehensive method that can be applied in developing nations and emerging economies.

Taking place during 6-18 November, this year’s COP comes amidst a period of global disruption and crisis with the aim of discussing ways to lessen the negative impacts of climate change and adapting to its repercussions.