Egyptian Stock Exchange Launches Voluntary Carbon Market

Prime Minister Mostafa Madbouly launched the voluntary carbon markets platform at COP27’s Egyptian pavilion. The platform was launched with the participation of the Egyptian Exchange Stock. The launch ceremony was attended by Planning Minister Hala Saeed, Environment Minister Yasmine Fouad, and Board Chairman of the Financial Regulatory Authority Mohamed Farid. Minister Fouad underlined the importance of the event, which she said will offer greater chances for the private sector to commit to confronting climate change within the framework of the updated national contribution plan. The market, which was launched during the COP27 climate summit hosted in Egypt, would boost “financing African climate projects to achieve net zero”, the exchange said.

Egypt Signs Concessional Development Funding Worth

$2.24B

The Ministry of International Cooperation announced the signing of $2.24 billion in concessional development funding. The ministry stated that this came in the light of multilateral cooperation efforts to support the State’s development vision to implement a number of development projects and develop sustainable infrastructure that stimulate private sector participation with a number of development partners in transport, housing, electricity, renewable energy, food security and the environment in the Egyptian pavilion of the COP27 Climate Conference.