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Egyptian Coral Reef Protection Fund Discussed
The article focused on Egypt's efforts to establish a national fund for the protection of the Red Sea's coral reefs, aimed at enhancing environmental, tourism, and economic sustainability in the region. During the meeting, discussions covered the mechanisms for founding the fund, which includes two types of financing: a grant facility from a charitable organization and an investment portfolio to attract private investments. The fund's objective is to safeguard the coral reefs and achieve economic stability. The initiative aligns with the national biodiversity strategy, emphasizing the importance of environmental protection for sustainable development and local job creation. The state will oversee the management of the fund to ensure transparency, and its goal is to attract long-term investments. Egypt is also expected to participate in international conferences to present this initiative.
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