Arab Press

بالشعب و للشعب
Saturday, Feb 22, 2025

European Investment Bank to Help Egypt Overcome ‘Scarcity of Resources’

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.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advance.
Israeli Minister Urges Hamas to Surrender and Depart from Gaza.
Iran Considers Moving Its Capital Due to Urban Difficulties
Israel and Hamas Finalize Sixth Exchange of Hostages and Prisoners During Continuing Gaza Ceasefire
Leaders of BRICS to Gather in Rio de Janeiro for July Summit
Muhsin Hendricks, a trailblazing openly gay imam, was killed in South Africa.
Trump's special envoy for hostage affairs cautions Hamas against challenging Trump before Saturday's deadline.
Two British citizens apprehended in Iran amid escalating tensions.
Israel Issues Threat of Military Action as Hostage Negotiations with Hamas Continue
Hamas Coordinates Worldwide Solidarity Marches in Reaction to U.S. and Israeli Initiative
Israel Warns of Ending Gaza Ceasefire Due to Hostage Situation
King Abdullah II Dismisses US Proposal to Relocate Palestinians, Commits to Welcoming Gaza Children.
Lebanon Installs New Government with Hezbollah's Impact on Key Ministries
Report: Iran Attempted to Assassinate Trump During Election Campaign
U.S. Authorizes $7.4 Billion Arms Sale to Israel
Iran's Supreme Leader Rejects Nuclear Negotiations with the U.S.
UN Chief Denounces Trump's Gaza Plan, Cautions Against Ethnic Cleansing
Pressure Intensifies for a Free Trade Agreement between the UK and GCC in Light of Economic Difficulties
Israel to Withdraw from UN Human Rights Council Due to Accusations of Anti-Semitism
EU Reaffirms Gaza's Essential Role in Future Palestinian State Following Trump's Proposal
Iranian Currency Reaches All-Time Low Amid US 'Maximum Pressure' Initiative.
UN Reaffirms Ban on Deportation from Occupied Territories Amid US Gaza Proposal
Palestinians Fear Repeat of 'Nakba' Amid Ongoing Crisis in Gaza
UAE Aids in the Exchange of 300 Prisoners Between Russia and Ukraine
Egypt Seeks Global Backing for Two-State Solution Following US Proposal for Gaza Plan
Trump's Suggestion to 'Seize Control' of Gaza Represents a Significant Shift in US Policy
French President is the first EU leader to extend congratulations to the new Syrian President.
Tunisian President Appoints New Finance Minister Amid Economic Crisis
Trump Suggests U.S. 'Takeover' of Gaza, Prompting Global Worries
Trump's Proposal for Gaza Provokes Global Debate
President Trump Suggests Moving Gaza's Palestinian Population
Aga Khan IV, Spiritual Leader and Philanthropist, Dies at 88
Erdogan and Syria's Sharaa Talk About Collaboration to Counter Kurdish Militants
Trump Suggests U.S. Control of Gaza Strip Amid Ongoing Conflict
Trump Resumes 'Maximum Pressure' Strategy to Limit Iran's Oil Exports.
Ex-British Soldier Sentenced for Espionage on Behalf of Iran and Fleeing from Prison
Gazans in Egypt Reject Displacement, Struggle with Return to War-Torn Home
Queen Rania Urges Protection of Children’s Rights at Vatican Summit
Hamas Officials Ready to Begin Negotiations for Phase Two of Gaza Truce
Trump Expresses Caution Over Gaza Ceasefire as Netanyahu Visits Washington
Oman to Host 18th Indian Ocean Conference on Maritime Security and Trade
Emir of Kuwait Meets BlackRock CEO for Talks on Investment Opportunities
Queen Rania of Jordan Calls for Global Action on Children’s Rights at Vatican Summit
Egyptian President El-Sisi Invited for White House Meeting Following Jordanian King’s Visit
Queen Rania Calls for Protection of Children’s Rights at Vatican Summit
Israeli Military Operations Continue on Lebanon Border Amid Ceasefire Tensions
Israeli Hostage's Release Highlights Uncertainty Over Family's Fate
Israeli Military Operations Escalate in Southern Lebanon Amid Hezbollah Tensions
Zayed Award for Human Fraternity Announces 2025 Honorees
Kuwait Anticipates a 12% Increase in Budget Deficit for the 2025-2026 Fiscal Year
×