Egypt allocates EGP 36.7 billion in FY 2020/2021 budget for 691 green projects
10/18/2020 3:24:03 PM

Egypt has allocated EGP 36.7 billion in the FY 2020/2021 budget for the implementation of 691 green projects, Minister of Planning and Economic Development Hala El-Said said on Saturday.

The sum accounts for 14 percent of the budget’s allocations for investment.

The total value of the 691 green projects is estimated at EGP 447.3 billion, added El-Said.

It is hoped 30 percent of investments will be allocated for green projects in the coming FY 2021/2022 budget, she stated.

The planning ministry conducted six workshops in the past months with six ministries to discuss the environmental sustainability measures guide that the ministry has drafted under President Abdel-Fattah El-Sisi's directives to push forward towards the green economy and engage the environmental dimension in the developmental plans.

During their annual meetings held virtually from Washington, the International Monetary Fund (IMF) and the World Bank Group (WBG) called on all countries, especially the middle-income countries and emerging economies, to invest intensively in green projects to accelerate recovery from the COVID-19 pandemic and to fight the climate change challenges.