European Investment Bank to Help Egypt Overcome ‘Scarcity of Resources’

View of a COP27 sign on the road leading to the conference area, Sharm el-Sheikh, Egypt, October 20, 2022. REUTERS/Sayed Sheasha
View of a COP27 sign on the road leading to the conference area, Sharm el-Sheikh, Egypt, October 20, 2022. REUTERS/Sayed Sheasha
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European Investment Bank to Help Egypt Overcome ‘Scarcity of Resources’

View of a COP27 sign on the road leading to the conference area, Sharm el-Sheikh, Egypt, October 20, 2022. REUTERS/Sayed Sheasha
View of a COP27 sign on the road leading to the conference area, Sharm el-Sheikh, Egypt, October 20, 2022. REUTERS/Sayed Sheasha

The Egyptian presidency has sought to put water at the heart of climate action to overcome water scarcity and improve its resources.

Dr. Hani Sewilam, Egypt’s Minister of Water Systems, and Irrigation, inaugurated on Monday the COP27’s Thematic Day for Water, announcing the Action on Water Adaptation or Resilience (AWARe), an initiative that will focus on inclusive cooperation to address water related challenges and solutions across climate change adaptation.

Sewilam said that the international initiative was prepared in partnership with the World Meteorological Organization (WMO) and other international bodies, under the umbrella of a number of international coalitions such as the Water and Climate Coalition, the Adaptation Action Coalition, as well as the Marrakesh Partnership Climate Action Pathway Water.

Monday’s event was attended by Ambassador Ayman Amin Tharwat, Deputy Director for the Department of Climate, Environment and Sustainable Development for the Egyptian Ministry of Foreign Affairs, and Dr. Elena Manaenkova, Deputy Secretary General of WMO.

“The Global Water Crisis is affecting billions of people worldwide. The AWARe initiative will catalyze inclusive cooperation to address water as a key to climate change adaptation and its co-benefits, as well as enhanced resilience,” the minister said.

Meanwhile, the European Investment Bank plans to provide new financing to Egypt worth $1.5 billion, mostly focused on the water treatment sector, according to Gelsomina Vigliotti, the Bank’s vice president.

During an interview with Bloomberg, on the sidelines of the Climate Summit (COP27) in Sharm el-Sheikh, Vigliotti noted that the Bank would collaborate with the Egyptian government to link water, food, and energy projects in order to actualize a strategy that would be considerate of climate change in several aspects pertaining to the economy and the impact on the population.

She added that the bank would also work with Egypt in the transport and energy sectors, given their association with carbon dioxide emissions.



Biden Says He Will Keep Pushing Gaza Ceasefire Efforts

 President Joe Biden speaks as other G20 leaders listen during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Monday, Nov. 18, 2024. (Eric Lee/The New York Times via AP, Pool)
President Joe Biden speaks as other G20 leaders listen during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Monday, Nov. 18, 2024. (Eric Lee/The New York Times via AP, Pool)
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Biden Says He Will Keep Pushing Gaza Ceasefire Efforts

 President Joe Biden speaks as other G20 leaders listen during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Monday, Nov. 18, 2024. (Eric Lee/The New York Times via AP, Pool)
President Joe Biden speaks as other G20 leaders listen during the G20 Summit at the Museum of Modern Art in Rio de Janeiro, Monday, Nov. 18, 2024. (Eric Lee/The New York Times via AP, Pool)

President Joe Biden told fellow global leaders at a Group of 20 summit Monday that his soon-to-end administration would keep pushing to bring an equitable end to Israel’s devastating war against Hamas in Gaza.

Seated between leaders of France and India at a long oval table at the summit site in Rio de Janeiro, Biden cited US efforts on hunger and poverty in his soon-to-end four years in office, saying he had put $160 billion into global development.

With fewer than three months left in his term, Biden also said his administration would keep pressing Prime Minister Benjamin Netanyahu’s government on its conduct of the war and the need to end it.

“Israel has a right to defend itself after the worse massacre of Jews since the Holocaust. But how it defends itself ... matters a great deal.”

“We’re going to keep pushing to accelerate a ceasefire deal that ensures Israel’s security and brings hostages home and ends the suffering of the Palestinian people and children,” he said.

Biden also said Hamas was still refusing a deal, adding, “I am asking everyone to increase the pressure on Hamas.”