Higher temperatures and extreme weather conditions have inflicted crippling losses in countries in the Middle East and Central Asia, the IMF explains. Egypt is one of the most exposed countries. To support the shift to a greener and climate-resilient economy, the Egyptian government recently launched the National Climate Change Strategy, in which private industry will have to play a key role.
Egypt is highly vulnerable to water scarcity, droughts, rising sea levels, and other adverse impacts of climate change. Without adaptation, agriculture, tourism, and coastal communities will be at particular risk.
To support the move to a greener, climate-resilient economy, the Egyptian government recently launched the National Climate Change Strategy. The private sector is scaling up adaptation efforts and will play a key role in this transition. To develop the green finance market, Egypt has also issued the region’s first sovereign green bond to finance projects in clean transportation and sustainable water management. As host of COP27, Egypt is also coordinating global action on climate adaptation, mitigation, and finance.
