The Minister of Planning and Economic Development meets with the Egyptian Ambassador to Brazil

Egypt’s Minister of Planning and Economic Development, Dr. Hala El-Said met with Mr. Wael Abul-Magd, Ambassador of the Arab Republic of Egypt to Brazil, member of the Board of Directors of the Green Climate Fund for the African continent, and head of the Egyptian negotiating delegation at the 26th Conference of the Parties to the United Nations Convention on Climate Change (COP26).
The meeting came on the sidelines of her participation in the activities of the conference held in Glasgow, United Kingdom, and whose activities will continue until November 12.During the meeting, Dr. Hala El-Said stressed the importance of the issue of climate change for the Egyptian economy, and addressed the ministry's efforts to support green transformation and sustainability efforts in Egypt, by updating the sustainable development strategy "Egypt Vision 2030", and applying environmental sustainability standards to increase the share of green projects in state’s plan investment to 30% during the fiscal year 2021/2022.El-Said also reviewed the role of The Sovereign Fund of Egypt (TSFE) in investing in green fields such as green hydrogen production, wind energy projects, seawater desalination, and others.For his part, Ambassador Wael Abul-Magd reviewed the development of the negotiating process on climate change issues, whether within the framework of the United Nations Framework Convention or through the Paris Agreement and the negotiations to activate this agreement and its various clauses.Abul-Magd also reviewed the positions of several active countries, as well as the initiatives that are announced on the sidelines of the Conference of the Parties, stressing the importance of good preparation for the upcoming Conference of Parties in Sharm El Sheikh. Abul-Magd referred to the procedures and stages for submitting and approving projects through the Green Climate Fund, stressing the importance of working to enhance Egypt's benefit from the fund's resources.