Egypt, Colombia discuss biodiversity funding mechanisms

Egypt’s Minister of Environment, Yasmine Fouad, held a virtual meeting with Colombia’s Minister of Environment, Maria Susana Muhamad, to discuss resource mobilisation under the UN Convention on Biological Diversity.

The discussions focused on financing mechanisms to achieve the objectives of the new Global Biodiversity Framework, including the creation of a dedicated funding mechanism to complement existing structures like the Global Environment Facility (GEF).

Fouad emphasised that while the GEF has played a crucial role, a new mechanism is essential to address emerging global biodiversity challenges, ensuring efficient resource utilisation and accessibility.

She highlighted Egypt’s success in mobilising $20 million for coral reef conservation in the Red Sea through private sector partnerships, alongside a GEF-supported project to enhance policies, build capacity, and provide technical support.

The ministers also discussed lessons from other global funding initiatives, such as the Green Climate Fund, to establish an ambitious and inclusive financing model that integrates public and private resources to support biodiversity goals.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama

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