President Abdel-Fattah El-Sisi emphasized collaboration with the World Economic Forum (WEF)
President Abdel-Fattah El-Sisi emphasized collaboration with the World Economic Forum (WEF) to attract foreign private sector investments in Egypt’s priority areas, including industry, sustainable energy, AI, and digital transformation. During his Cairo meeting with WEF President Børge Brende, El-Sisi highlighted Egypt’s infrastructure and economic reform progress, presenting significant investment opportunities. Brende commended Egypt’s reforms and private sector inclusion efforts, aligning with the State Ownership Policy, which targets increasing private sector contributions to 65% of the economy in the coming years. https://lnkd.in/dGsaEQYXhashtag#Investment hashtag#EconomicReform hashtag#Egypt
COP29 concluded with a $300bn annual climate finance target by 2035 for developing nations
COP29 concluded with a $300bn annual climate finance target by 2035 for developing nations, complemented by agreements on carbon trading and a regulated global market under the Paris Agreement. EU Climate Commissioner Wopke Hoekstra celebrated the outcome as “a milestone for global climate action,” highlighting its significance in advancing sustainable development.UN Climate Chief Simon Stiell emphasized the importance of timely implementation, calling the deal “an insurance policy for humanity” amid escalating climate impacts.https://lnkd.in/gg-ZaChj🔗 hashtag#COP29 hashtag#ClimateFinance hashtag#ParisAgreement hashtag#Sustainability UNFCCC-WGEO Regional Collaboration Centre (RCC) MENA and SA
The IFC – International Finance Corporation announced $605M investments
The IFC – International Finance Corporation announced $605M investments in three major Egyptian projects, fostering sustainable tourism, climate finance, and SME development:$300M Sustainability Bonds with Arab African International Bank, co-financed by EBRD and BII, to fund green initiatives and social projects.$155M Green Tourism Investment in Orascom Development Egypt to enhance energy efficiency in Red Sea hotels.$150M SME Financing via CIB Egypt, prioritizing women-owned businesses.IFC VP Sergio Pimenta emphasized these initiatives as pivotal for financial inclusion and Egypt’s green economy transition.Rania A. Al-Mashat hashtag#EgyptEconomyhttps://lnkd.in/dzzja5Kb