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Sources told Daily News Egypt that the fair value study is expected to be completed within the next few weeks, assuming that the financial control approval will be obtained to complete the deal before the end of this year.
Green hydrogen projects to be focus of group’s investments in coming period: Managing Director
The Sovereign Fund is about to launch new projects in the field of water desalination
Mohamed Farid, head of the Financial Regulatory Authority (FRA), said that EgyCop is the first entity of its kind to provide funding to help companies in terms of the transition towards a green economy.
Furthermore, he highlighted how developing countries welcomed the fund, especially countries that have suffered billions of losses over the past two years and damage to their productive sectors as a result of climate change.
The announcement was made at a meeting of the International National Trusts Organisation (INTO) at COP27 in Sharm-El-Sheikh where participants will hold discussions under the theme Building Adaptation and Resilience in Sites of Heritage and Culture.
He added to Daily News Egypt that there are new climate solutions related to business accelerators that have been launched to finance companies and emerging projects related to climate change, or those that provide solutions that suit the environment and reduce pollution in general, which have witnessed popularity over the past two years.
Eight protocols have been activated with 3-4 GW: SCZone Head
In an interview with Daily News Egypt on the side-lines of the UN Conference of Parties on Climate Change (COP27), Al-Mutlaq said that the project consists of two phases. The first phase will produce about 250,000 tonnes of green ammonia by 2025 — provided that the construction work will be completed within two years — in order to export its products to Europe, with the aim of doubling exports in 10 years.
This came during a session titled ‘Towards Blue Cities: Adapting and Building Resilience to Climate Change in Coastal Communities and Cities of Africa’ in which he discussed the consequences of rising sea levels on small islands and the floods that have submerged about a third of Pakistan’s area under water.
During a press conference at COP27, he added that the second week will witness more push to fulfill the commitments of the Paris Agreement, and come up with an implementation mechanism for the Climate Conference in Glasgow, to implement it during 2024.
The private sector must participate in investments to reduce emissions, promote renewable energy, says Egypt’s High-Level Climate Champion at the UN
Bank aims to increase SME finance to EGP 10.5bn in 2022: Ali
Biden congratulated Al-Sisi on hosting COP 27, and the two leaders reaffirmed their commitment to accelerating global efforts to tackle the climate crisis.
It is part of $24bn financing package from Arab Coordination Group
On the sidelines of a round table during the activities of COP27, El-Said added that the Climate Conference aims to focus on evaluating the progress made by the world in implementing mechanisms to confront climate change.
Pedro’s remarks came as part of his participation in the ongoing UN Conference of Parties on Climate Change (COP27) that is being held in Egypt’s Sharm El-Sheikh.
Boyd-Capenter told Daily News Egypt during the 27th UN Conference of the Parties on climate Change (COP27) in Sharm El-Sheikh on Tuesday, that the finance goes to a project with more than 55% of its components are green.
The minister added on the sidelines his participation in COP27 that Bulgaria looks forward to activating the LNGagreement as soon as possible
Sharm El-Sheikh – Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt, confirmed the important role of art and media in raising awareness about climate issues. His remarks came during his participation in a session about the role of art in addressing climate change on the first day of COP27, with the participation of Hala …
Shoukry’s remarks came after he was formally elected as the COP27 president by the parties during the opening plenary session.
SPEED is an affiliate of SPEED International for Distribution & Logistics. The takeover marks a significant milestone in the digital transformation that aims at connecting FMCG supplies with small – medium merchants, retailers and soon consumers through digital platforms.
The company has a capital of EGP 80m in Africa in partnership with Al-Mansour Mantrac
The project will provide a production capacity of 45 GWh of clean electricity, which eliminates approximately 22,000 tonnes of CO2 emissions annually or 440,000 tonnes over 20 years.
Close sources said that the project consists of a green ammonia unit with initial features that were agreed upon between Qatar Energy and Egypt’s Sovereign Fund on the side-lines of the Egyptian delegation’s visit to Qatar last month, and it is expected that the injection of investments will start during the coming period.
The group seeks to raise about AED 750m from the offering and will use the proceeds from the offering mainly to expand the category of the K-12 premium sector (from kindergarten to high school) through the expected development of four new distinguished schools in distinct locations in Dubai and Abu Dhabi.
Total company’s value is $800m-1bn
Over the past two days, the prices of Egypt’s bonds offered in euros and dollars in foreign markets increased, and the price of dollar-denominated bonds due in 2047 rose to 59.7% at the end of trading on Friday, compared to 59.07% at the end of Wednesday’s trading.
ADE 1.1bn cash available to carry out deals
Total current UAE investments in Egypt stand at $27bn