Africa needs $3 trillion in investments for green economy transformation within the coming 10 years, Alarabiya.net reported on May 24th, citing Egyptian Minister of Finance Mohamed Maait.
During the Zero Net Delivery Summit 2023 in London, Maait said that emerging countries are facing significant hardships in securing this financing, given the high-interest rates across the world and the decline in green investment financing.
Egypt is currently partnering with the relevant authorities in the UAE, Britain, and the United Nations (UN) to launch debt sustainability coalition in order to help the emerging countries in financing green projects, plug funding gaps, and reduce lending costs, as well as cut issuance costs of green bonds and sukuk, Maait added.
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