This comes as the Green Climate Fund’s board has agreed invest some USD 350 mn in Egyptian projects, Environment Minister Khaled Fahmy said on Saturday, Al Mal reports. Those include USD 154.7 mn for renewable energy projects and a USD 31.4 mn grant to support a climate change adaptation program in the North Coast, which entails building protective barriers along 69 km of lowlands on the sea and the Nile Delta. The GCF has also agreed to fund a program to promote private sector participation in climate-centric projects through special loans offered by local lenders. The GCF made the decision during their board meeting in Cairo yesterday, where they aimed to discuss the development of the fund’s project portfolio and consider new proposals, according to a statement.

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