Egypt woes Green Climate Fund to finance six green energy projects

Egypt is seeking to obtain billions of dollars from the Green Climate Fund (GCF) to finance six green energy projects as the Arab country strives to tackle climate change issues.

Egyptian Environment minister Yasmine Fouad made the announcement Tuesday as she met with GCF CEO Yannick Glemarec, report says.

Yasmine Fouad indicated that her country will first need up to $15 billion to accelerate the shift towards new and renewable energy.

Egypt, which will host COP27 in November this year in Sharm El Sheikh, is planning to increase its capacity of green energy production and reduce dependence on fossil fuel.

Fouad and Glemarec also discussed collaboration between Egypt and the GCF in the fields of water, agriculture, and food security, according to a statement from the ministry.