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The British Embassy in Egypt celebrates milestone achievements in climate finance, and new UK-Egypt bilateral agreements

04 October 2022, CAIRO – Today, the British Embassy in Egypt hosted an event marking “One Month to Go to COP27”, celebrating the UK and Egypt’s growing green partnership.

The event marked the launch of the UK’s Climate Finance Accelerator in Egypt, a new programme which will help low-carbon projects access the funding they need. Attendees also witnessed the signing of a Memorandum of Understanding (MoU) between FSD Africa and the Egyptian Financial Regulatory Authority (FRA), to help make the financial sector in Egypt more sustainable.

The event began with opening remarks from British Ambassador to Egypt Gareth Bayley, followed by a keynote speech via phone conference from Minister of Environment Dr Yasmine Fouad, who said that the Climate Finance Accelerator is essential and critical mechanism for financing climate change.

The event also included a panel discussion on climate finance moderated by the CFA team. Panellists included Dr. Dalia Abdel Kader, Chief Sustainability Officer CIB, as well as other experts in the field.

The Climate Finance Accelerator is already making a difference elsewhere in Africa and around the world.  It is great news that Egypt will now feature as part of this innovative approach to help low-carbon projects secure investment. Climate financing is one of the key demands for COP27, and with the introduction of such a programme in Egypt, we show that we are not only listening, but also taking action. I am also particularly proud to witness today the signing of the Memorandum of Understanding between FSD Africa and the Financial Regulatory Authority to help make the Egyptian financial sector more sustainable. Such achievements showcase the real strength of the UK and Egypt’s growing green partnership.”

Gareth Bayley, British Ambassador to Egypt