$15 billion to finance the «Nofi» program projects in Egypt
After the COP27 climate conference in the Egyptian city of Sharm el-Sheikh, Egypt was funded with 15 billion dollars for the projects of the “Novi” program.
Shrouq
There have been successes in many international agreements after the 27th Climate Conference, and Egypt has received funds.
Dr. Yasmine Fouad, Minister of the Environment, said that among Egypt's successes in the outputs of the COP27 climate conference with regard to energy, food and water is obtaining $15 billion through a number of agreements to finance the projects of the "Novi" program.
The package of projects amounted to 26 projects, which were named "Energy, Food and Water" and were presented to donor and developed countries for Egypt.
10 billion dollars for the Novi program
Egypt succeeded in mobilizing funding for the Novi program (linking energy, food and water) in partial implementation of the updated national contributions plan, through international financing organizations, in the amount of about $10 billion for the Novi program in the fields of energy, agriculture and water.
The funding includes projects for the transportation sector, expansion of new and renewable energy projects, making this program a success story for the Egyptian state and a model for developing and African countries to strike a balance between the mitigation and adaptation processes.
"Novi" program
The "Novi" program was launched before the COP27 Climate Summit, and a platform was created for it, within the framework of the second goal of the National Strategy for the year 2050.
This program aims to finance green projects to reduce carbon dioxide and methane emissions, which reflects Egypt's transformation of the green economy within the framework of mitigating the global repercussions of climate changes and temperatures.
Egypt has obtained funding in various sectors, and the “Novi” program is one of those programs that deals with projects related to water resources, food, agriculture, and new and renewable energy.
The projects that have been agreed upon are related to the generation of electricity and solar energy, the generation of electricity from the wind, in addition to the production of green hydrogen and new and renewable energy.
