{"id":74356,"date":"2022-10-17T02:00:20","date_gmt":"2022-10-17T02:00:20","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/"},"modified":"2022-10-17T02:00:20","modified_gmt":"2022-10-17T02:00:20","slug":"today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/","title":{"rendered":"TODAY: Is climate action a prerequisite for IMF loans? + Water scarcity hinders green hydrogen in North Africa + Healthcare gets a climate angle"},"content":{"rendered":"<p><strong>Good morning, wonderful people. <\/strong>We hope you enjoyed the weekend, which on the news front was dominated by the same story that had pride of place last week: the IMF and World Bank meetings. They ended on a good note from a MNEA perspective as Tunisia reached an agreement with the IMF on a USD 1.9 bn, 48-month extended fund facility, the IMF said in a <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2022\/10\/15\/pr22353-tunisia-imf-staff-reaches-staff-level-agreement-on-an-extended-fund-facility-with-tunisia\">press release<\/a> over the weekend.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Tunisia\u2019s (surprisingly small?) USD 1.9 bn IMF package to include climate <\/strong><strong>stipulations:<\/strong> The IMF loan includes requirements designed to help the country adapt and build climate change resilience by promoting investments in renewables, land and water management. It also includes measures to preserve Tunisia\u2019s coast line, as well as agriculture, health and tourism.<\/p>\n<p><strong>Egypt can expect similar riders in its IMF agreement: <\/strong>Fostering a \u201ctransition towards a greener economy\u201d will be key to securing Egypt\u2019s package as well, according to a <a href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2022\/10\/15\/pr22354-statement-by-the-imf-spokesperson-on-egypt\">statement<\/a> by the IMF\u2019s Communication Director Gerry Rice on Saturday. Egypt is one of 29 countries waiting to receive financial assistance from the IMF to help them get through tight economic times.<\/p>\n<p><strong>Developing nations put donors on notice, with 20 countries threatening to stop <\/strong><strong>payments on<\/strong><strong> USD 685 bn worth of debt. <\/strong>20 of the countries most vulnerable to climate change may stop payments on their collective debt of USD 685 bn, former president of the Maldives Mohamad Nasheed said on Friday, according to the <a href=\"https:\/\/www.nytimes.com\/2022\/10\/14\/climate\/climate-disasters-poor-nations-iimf.html?searchResultPosition=1\">New York Times<\/a>. The countries are instead calling for a debt-for-nature swap that would see part of their debts forgiven and invested in climate projects. The intention was to raise this with World Bank and IMF officials yesterday, at the wrap-up of their <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bd6c0530-a9fc-4fad-8494-58464122c3f6\">annual meetings<\/a>, Nasheed added \u2014 we weren\u2019t able to find anything by way of update in the public record and will be looking into this further.<\/p>\n<p><strong>MEANWHILE- Climate-related financing by the world\u2019s biggest multilateral development <\/strong><strong>banks rose <\/strong><strong>about 24% to almost USD 82 bn in FY 2021<\/strong> from USD 66 bn, according to a joint report (<a href=\"https:\/\/www.eib.org\/attachments\/lucalli\/mdbs_joint_report_2021_en.pdf\">pdf<\/a>) issued by institutions including EBRD, EIB, AfDB, AIIB, World Bank and the IsDB, among others. Of this finance, some USD 51 bn \u2014 or 62% \u2014 went to low and middle-income countries, with USD 33 bn going to mitigation projects and USD 17 bn towards climate change adaptation, the report noted. Climate-focused investment from private investors to low and middle-income countries in 2021 stood at USD 13 bn, it added.<\/p>\n<p><strong>Still, the financing is nowhere near what\u2019s needed: <\/strong>Emerging markets will need at least USD 1 tn per year in public and private finance to achieve net-zero emissions by 2050, asset manager BlackRock <a href=\"https:\/\/www.blackrock.com\/us\/individual\/insights\/blackrock-investment-institute\/financing-the-net-zero-transition\">estimated last year<\/a>. That\u2019s in line with the range Egypt climate czar <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/20\/part-2-of-our-exclusive-sitdown-with-mahmoud-mohieldin-the-un-climate-change-high-level-champion-for-egypt-81570\/\">Mahmoud Mohieldin has in mind<\/a>.<\/p>\n<p><strong>MOVES- Maybe one of us having a seat on the table will help?<\/strong> The UAE\u2019s minister of state for financial affairs, Mohamed Hadi Al Hussaini, was elected as chairman of the World Bank and the IMF\u2019s development committee, state news agency WAM <a href=\"http:\/\/wam.ae\/en\/details\/1395303092166\">reported<\/a> on Saturday. Al Hussaini\u2019s two year term will see him manage the committee\u2019s sustainable development programs for developing economies, WAM notes.<\/p>\n<p><strong>PSA-<\/strong> <strong>Dubai\u2019s Roads and Transport Authority (RTA) cut the speed limit for e-scooters to <\/strong><strong>30 km per hour<\/strong>, down from 40 km\/h. RTA also opened up new routes for electric scooters in 11 neighborhoods in the city, WAM <a href=\"https:\/\/wam.ae\/en\/details\/1395303092212\">reported<\/a> yesterday.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p><strong>COUNTDOWN TO COP (20 days to go)-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>And the west breathed a sigh of relief: Russian President Vladimir Putin will <\/strong><strong>not attend COP27<\/strong> as he does not foresee any major breakthroughs, Russia\u2019s presidential climate adviser Ruslan Edelgeriyev <a href=\"https:\/\/bit.ly\/3TlpQgW\">told Sputnik<\/a> yesterday. While Russia acknowledges the importance of the Sharm El Sheikh conference and maintains its stance vis-a-vis climate change as a \u201cproblem [that] must be solved by working together,\u201d the Russian presidency does not expect groundbreaking developments such as the one that yielded the <a href=\"https:\/\/bit.ly\/2EVSoXT\">2015 Paris Agreement<\/a>. Putin has appointed Edelgeriyev to head the Kremlin\u2019s delegation to COP27.<\/p>\n<p><strong>Egypt will inaugurate (part of) its monorail during COP27<\/strong>, the Egyptian cabinet said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LjfNd3okro32YB8WvCxfSc9EpHijNgzvYoHui8fzGGcmoecuC3dwhhq4amthEGXZl\">a<\/a><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LjfNd3okro32YB8WvCxfSc9EpHijNgzvYoHui8fzGGcmoecuC3dwhhq4amthEGXZl\">statement<\/a>. Once completed, the project will span 22 stations over 56.5 km with 40 trains transporting people across Cairo. Egypt plans to inaugurate the eastern segment of the monorail from the New Administrative Capital to Nasr City in time for COP27. The USD 4.5 bn project is <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/06\/egypt-signs-usd-4-5-bn-agreement-for-monorails-to-giza-and-new-capital\/\">designed, built<\/a>, supplied and operated by a consortium of <a href=\"https:\/\/www.alstom.com\/\">Alstom<\/a>, <a href=\"https:\/\/orascom.com\/\">Orascom Construction<\/a> and <a href=\"https:\/\/www.arabcont.com\/english\/\">Arab Contractors<\/a>.<\/p>\n<p><strong>CLIMATE DIPLOMACY-<\/strong> <strong>India and Egypt to deepen cooperation to include renewable <\/strong><strong>energy<\/strong>, India\u2019s Foreign Minister Subrahmanyam Jaishankar said at a press conference Saturday (<a href=\"https:\/\/bit.ly\/3s1xNfQ\">watch, runtime 6:20<\/a>) following a meeting with Egyptian Foreign Minister Sameh Shoukry.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY in our corner of the world- The UAE is becoming <\/strong><strong>decarbonization nation: <\/strong>The GCC nation made a number of major announcements over the past three days that show it\u2019s getting serious about decarbonization. Up first, the state-owned Abu Dhabi National Energy Company (Taqa) announced that it plans to build solar plants with capacities of 9 GW, and phase out some 7 GW of conventional natgas-generated electricity over the next 10 years.<\/p>\n<p><strong>Attention, big cement:<\/strong> We also have the UAE\u2019s energy ministry reaching agreements with some of the nation\u2019s top cement producers to add refuse-derived-fuel to their energy mix.<\/p>\n<p><strong>^^ We have more on these stories in this morning\u2019s news well, below. <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #1- Water scarcity is the main obstacle to green <\/strong><strong>hydrogen <\/strong><strong>production in North Africa<\/strong>, executive director of the Regional Center for Renewable Energy and Energy Efficiency (<a href=\"https:\/\/rcreee.org\/ar\/\">RCREEE<\/a>) Jawad El Kharraz told <a href=\"https:\/\/al-fanarmedia.org\/2022\/10\/green-hydrogen-production-in-mena-faces-a-water-problem-energy-leader-says\/\">Al Fanar Media<\/a> on Saturday. El Kharraz stressed the need to localize the tech behind green hydrogen production and to produce local scientific research. He also warned that producing green hydrogen for export to Europe \u201cat the expense of\u201d local water resources was \u201cunacceptable.\u201d<\/p>\n<p><strong>What\u2019s RCREEE? <\/strong>RCREEE serves as the technical arm of the Arab League\u2019s Energy Department and the Arab Ministerial Council for Electricity.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- Healthcare is becoming a vital part of regional climate <\/strong><strong>disc<\/strong><strong>ussions: <\/strong>Ten MENA health ministers committed to making their healthcare systems climate resilient and environmentally sustainable, according to a World Health Organization (WHO) <a href=\"https:\/\/www.emro.who.int\/media\/news\/one-planet-one-health-building-sustainable-and-resilient-health-care-systems.html\">release<\/a>. These include Bahrain, Egypt, Iran, Jordan, Morocco, Palestine, Oman, Tunisia, the UAE and Yemen. The WHO Regional Committee for the Eastern Mediterranean recently discussed a regional framework to create low-carbon, low-emission healthcare systems and facilities that are climate resilient.<\/p>\n<p><strong>SOUND SMART- Climate change is the biggest health treat of the 21st century<\/strong>, leading to the rise of new diseases as well as the propagation of existing ones, the WHO statement notes. Some 23% of diseases plaguing the Eastern Mediterranean are attributed to environmental and climatic risks, and more than 500k people die prematurely every year due to air pollution, according to WHO estimates.<\/p>\n<p><strong>***<\/strong><br \/>\n <strong><a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">Take our EV survey<\/a><\/strong><strong>:<\/strong> Are you an ex-petrolhead shopping around for your first electric vehicle? EV-curious and wondering what all the fuss is about? Or are you not ready to say goodbye to that sweet smell of benzene as you wait at the gas station?<\/p>\n<p><strong>We want to hear from you:<\/strong> We\u2019re taking the pulse on how the region feels about MENA\u2019s EV transition. Take a few minutes to fill out <a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">our short survey<\/a>. We\u2019ll be back with the results in a couple of weeks.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>WORTH READING- Half of the world\u2019s countries do not have multi-hazard early <\/strong><strong>warning systems <\/strong>(or \u201cMHEWS\u201d), according to a UN report <a href=\"https:\/\/bit.ly\/3CF9icX\">published<\/a> on Thursday. This holds particularly true for the world\u2019s least developed countries, the report\u2019s authors found. These <a href=\"https:\/\/public.wmo.int\/en\">UN-recommended<\/a> systems have helped reduce global disaster mortality levels through data collection and analysis.<\/p>\n<p><strong>SMART POLICY- Jordan just launched its own national strategy for disaster risk <\/strong><strong>reduction<\/strong>, <a href=\"https:\/\/bit.ly\/3VtGPzA\">Ammon News<\/a> reported yesterday. The kingdom was initially prompted to develop the strategy by the covid pandemic, Prime Minister Bishr Khasawneh said, adding that the new system is also expected to be beneficial to mitigate climate-related risks.<\/p>\n<p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n ***<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong><a href=\"https:\/\/saudi-agriculture.com\/\">The Saudi Agriculture Exhibition<\/a><\/strong><strong> starts today and runs through 20 October <\/strong>at the Riyadh International Convention and Exhibition Center in Riyadh, Saudi Arabia. You can register for the exhibition <a href=\"https:\/\/saudi-agriculture.com\/\">here<\/a>.<\/p>\n<p><strong>Cairo Water Week enters its second day today and runs until this Wednesday, 19 October. <\/strong>Some 18.5k attendees from 90 international and regional organizations are convening at the Nile Ritz Carlton in Cairo for the event, according to its <a href=\"https:\/\/www.cairowaterweek.eg\/\">website<\/a>. The focus of this year\u2019s edition is on preparations to discuss water resources at COP27. Catch the full agenda <a href=\"https:\/\/www.cairowaterweek.eg\/cww2022-agenda\/\">here.<\/a><\/p>\n<p><strong>Today will see the <\/strong><strong><a href=\"https:\/\/sdg.iisd.org\/events\/unece-regional-forum-on-climate-initiatives-to-finance-climate-action-and-the-sdgs\/\">fifth Egypt and UN-led regional climate finance roundtable<\/a><\/strong><strong> ahead of COP27<\/strong>, in Geneva, Switzerland. Catch our recent <a href=\"https:\/\/enterprise.press\/greeneconomys\/climate-finance-roadshow-begins-ahead-cop27\/\">Going Green<\/a> story in EnterpriseAM on how the roundtables aim to secure investment for climate projects in developing nations ahead of COP27.<\/p>\n<p><strong>Egypt\u2019s House of Representatives will debate a <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">bill<\/a><\/strong><strong> that would, in part, regulate EV assembly<\/strong>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p>The <strong><a href=\"https:\/\/era.dz\/\">International Exhibition of Renewable Energies Clean Energies and Sustainable<\/a><\/strong><strong><a href=\"https:\/\/era.dz\/\">Development<\/a><\/strong> will run from <strong>24-26 October<\/strong> in Oran, <strong>Algeria<\/strong>. The event will focus on the role of startups in the green transition and the bankability of renewable energy projects.<\/p>\n<p><strong><a href=\"https:\/\/www.adipec.com\/\">ADIPEC<\/a><\/strong><strong> will run from 31 October to 1 November in Abu Dhabi, UAE. <\/strong>Some 40 ministers from around the world, including eight from MENA, will attend the event. Those include energy and oil ministers from the UAE, Kuwait, Bahrain and Egypt. Discussions will partly focus on the transition toward carbon neutrality, a statement picked up by Zawya <a href=\"http:\/\/zawya.com\/en\/press-release\/events-and-conferences\/over-40-global-ministers-to-speak-at-adipec-2022-e19ujpnf\">details<\/a>. You can register as an exhibitor <a href=\"https:\/\/www.adipec.com\/exhibition\/book-a-stand\/?utm_source=media-partner&utm_medium=email&utm_term=&utm_content=visitor-pass&utm_campaign=media-partner&actioncode=\">here<\/a>, and as an attendee <a href=\"https:\/\/www.adipec.com\/visit\/registration\/?utm_source=media-partner&utm_medium=email&utm_term=&utm_content=visitor-pass&utm_campaign=media-partner&actioncode=\">here<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. We hope you enjoyed the weekend, which on the news front was dominated by the same story that had pride of place last week: the IMF and World Bank meetings. They ended on a good note from a MNEA perspective as Tunisia reached an agreement with the IMF on a USD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[1054,1055,11,164,1053,298,93,294,52,383,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74356","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-today","tag-climate-adaptation","tag-ecosystem-restoration","tag-enterpriseclimate","tag-green-finance","tag-health-care","tag-hydrogen","tag-jordan","tag-tunisia","tag-uae","tag-water-scarcity","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ea7b7de0-d874-45fa-adb2-05d58b7bb353","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[74354],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TODAY: Is climate action a prerequisite for IMF loans? + Water scarcity hinders green hydrogen in North Africa + Healthcare gets a climate angle - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: Is climate action a prerequisite for IMF loans? + Water scarcity hinders green hydrogen in North Africa + Healthcare gets a climate angle\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. We hope you enjoyed the weekend, which on the news front was dominated by the same story that had pride of place last week: the IMF and World Bank meetings. They ended on a good note from a MNEA perspective as Tunisia reached an agreement with the IMF on a USD [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-17T02:00:20+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2022\/10\/17\/today-is-climate-action-a-prerequisite-for-imf-loans-water-scarcity-hinders-green-hydrogen-in-north-africa-healthcare-gets-a-climate-angle\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"TODAY: Is climate action a prerequisite for IMF loans? 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