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European Climate Pact Ambassador: European financing worth 7.4 billion euros to Egypt, to support a green, low-carbon economy and reduce migration the seventh day

Rosalie Youssef

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Dar Al Hilal

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%d8%b3%d9%81%d9%8a%d8%b1-%d9%85%d9%8a%d8%ab%d8%a7% d9%82-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d8%ae-%d8%a7%d9%84%d8%a3%d9%88%d8%b1% d9%88%d8%a8%d9%8a-%d9%8a%d8%a4%d9%83%d8%af-%d8%a3%d9%87%d9%85%d9%8a%d8%a9/ The Middle East News Agency

Al-Maqal newspaper

%d8%b3%d9%81%d9%8a%d8%b1-%d9%85%d9%8a%d8%ab%d8%a7%d9%82-%d8 %a7%d9%84%d9%85%d9%86%d8%a7%d8%ae-%d8%a7%d9%84%d8%a3%d9%88%d8%b1%d9%88%d8% a8%d9%8a-%d9%8a%d8%a4%d9%83%d8%af-%d8%a3%d9%87%d9%85%d9%8a%d8%a9/ European Climate Pact Ambassador: European financing worth 7.4 billion euros to Egypt, to support a green, low-carbon economy and reduce migration Ambassador Mostafa Sherbiny, the Pact Ambassador to Egypt and an international expert in sustainability and climate, said European Commission President Ursula von der Leyen is scheduled to go to Cairo on Sunday with the prime ministers of Greece, Italy and Belgium to finalize and announce the agreement. The European Union is preparing an aid package worth 7.4 billion euros for Egypt aimed at supporting the transition towards a green, low-carbon economy in line with the European Green Deal, especially in European supply chains. There are also fears that the conflicts in Gaza and Sudan will exacerbate financial problems in the country in question. In North Africa and increasing migration pressures on Europe. Among these companies is transforming the city of 6th of October, west of Cairo, into a green city, where the European Bank for Reconstruction and Development launched a plan in cooperation with the Egyptian government to shift towards a green, low-carbon economy. The plan, which will be implemented by the state and the 6th of October City Authority in cooperation with the European Bank, will work to address environmental issues and challenges related to infrastructure and support the transition to a green, low-carbon future capable of withstanding and responding to crises. It is a strategic road map designed to achieve the city’s vision through... Implementation of basic pivotal projects, after the European Parliament approved sustainability standards for companies that require supply chains to adhere to them. The transitional period has already begun from the first of October 2023 to implement the mechanism for adjusting carbon limits on goods exported to the European Union to commit to preventing carbon leakage to European Union countries from exporting countries. The European Union and Egypt, which have been discussing an aid package for several months, agreed that priority financing areas include sustainable energy and enhancing trade potential in the Suez Canal Economic Zone. The two sides are also trying to finalize a joint declaration that would expand their partnership in several areas, including economic stability, migration, security and water issues. About one billion euros in emergency financial aid can be disbursed immediately. A further €4 billion in macro-financial aid, linked to reforms under the expanded IMF programme, is under discussion and will need approval by EU member states. The rest of the package will be drawn from various EU funding sources, officials said. European Commission President Ursula von der Leyen will head to Cairo the day after tomorrow with the prime ministers of Greece, Italy and Belgium to finalize the agreement and announce it.
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