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Egypt to sign 9 projects with $15bn investments at Cop27

Road, Car, Transportation Thomson Reuters/Sayed Sheasha
Cop27 brings together countries to try to agree solutions to climate change

Egypt’s Ministry of International Cooperation plans to sign contracts for nine projects with investments worth $15 billion at the Cop27 climate summit.

The projects fall in the water, food and energy programme, which is a regional and international approach to move from the pledges stage to the implementation stage, reported Egypt Today, citing a ministry statement.

Development partners for the programme are the European Bank for Reconstruction and Development for the energy sector, the International Fund for Agricultural Development for the food sector and African Development Bank for the water sector.

The ongoing portfolio of development cooperation in climate finance for implementing adaptation and mitigation projects amounts to $11 billion.

It includes projects such as the Bahr El Baqar Water Treatment Plant, Al Mahsama Water Reclamation Plant, and wind energy projects in the Gulf of Suez.

The World Bank’s recent list of the largest per-capita emitters of carbon dioxide is headed by Qatar. There are five other Middle Eastern states among the top 10: Kuwait, Bahrain, the UAE, Saudi Arabia and Oman.

The UAE and Oman have made formal pledges to be carbon neutral by 2050. Bahrain and Saudi Arabia have set their net zero targets for 2060.

Cop27 begins on Monday November 6 in Sharm El-Sheikh.