Egypt allocates $2.3bln to 691 green projects in 2020/21 – ZAWYA

Egypt allocates $2.3bln to 691 green projects in 2020/21 – ZAWYA

Egypt allocates $2.3bln to 691 green projects in 2020/21 | ZAWYA MENA Edition HomeBusinessEnergyArticleEgypt allocates $2.3bln to 691 green projects in 2020/21 30% of investment projects plans will be implemented according to environmental sustainability and green economy concepts    The ministries of planning and economic development, and environment, have agreed that 30% of Egypt's investment projects in fiscal year (FY) 2020/21 plans will be implemented according to environmental sustainability and green economy concepts.Minister of Planning and Economic Development Hala El-Said indicated that 691 green projects have been included in the FY 2020/21 plan, at a total cost of EGP 447.3bn. A total of EGP 36.7bn has been allocated in the FY 2020/2021 budget, with about 14% of the total public investment distributed in the plan.According to a joint statement released on Sunday, both ministries also reached a consensus to increase this percentage to 100% during the next three years.El-Said said that more effort is needed to achieve sustainability and preserve the country's resources for future generations. She explained that sustainability is associated with a green bonds issuance as a sustainable financial instrument.Minister of Environment Yasmin Fouad stressed the need to include environmental aspects in Egypt's development projects. Fouad explained that