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صدى البلد
Egyptian Coral Reef Fund talks underway
The article focused on Egypt's efforts to establish an Egyptian Fund for the Protection of Coral Reefs in the Red Sea, aimed at financing environmental conservation and sustainability efforts. The meeting between the Minister of Local Development and Environment and the Deputy Resident Representative of the United Nations Development Programme discussed the mechanisms for establishing the fund, which includes a grant facility and an investment portfolio to attract investments and promote sustainable economic development. The fund relies on transparent government rules and seeks to strengthen the local economy and create job opportunities, with an emphasis on protecting biodiversity and supporting sustainable tourism. The legal structure and institutional framework were also reviewed, with a call to leverage local expertise and accelerate implementation. It was noted that the fund is one of the outputs of the Red Sea Coral Reefs Initiative, translating national priorities into environmental protection and increased environmental investments.
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