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Egypt to Mobilize Funding ‘Green Banks’ Ahead of COP 27 Summit

Egyptian Minister for International Cooperation, Rania al-Mashat speaks during an interview with Reuters in Cairo, Egypt January 24, 2021. REUTERS/Sherif Fahmy
Egyptian Minister for International Cooperation, Rania al-Mashat speaks during an interview with Reuters in Cairo, Egypt January 24, 2021. REUTERS/Sherif Fahmy
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Egypt to Mobilize Funding ‘Green Banks’ Ahead of COP 27 Summit

Egyptian Minister for International Cooperation, Rania al-Mashat speaks during an interview with Reuters in Cairo, Egypt January 24, 2021. REUTERS/Sherif Fahmy
Egyptian Minister for International Cooperation, Rania al-Mashat speaks during an interview with Reuters in Cairo, Egypt January 24, 2021. REUTERS/Sherif Fahmy

Egypt has intensified efforts to mobilize financing for "green banks," in preparation for the COP27 Climate Summit, which it will host in Sharm el-Sheikh in late 2022.

Minister of International Cooperation Rania al-Mashat said that innovative financing tools are a catalyst to ensure that the international community’s commitments made at COP26 in Glasgow are implemented ahead of the next summit.

Mashat underscored the importance of bolstering multilateral cooperation to advance the main areas of action to achieve the green transition, namely, mitigation and adaptation projects to climate change, technology transfer, expertise and financing.

She made her remarks at the opening speech at the Green Banks Event “A Green Finance Facilities Ecosystem: A Three Trillion Dollars Opportunity for Africa,” which is organized by the African Development Bank as part of the Middle East and North Africa Climate Week 2022, held in Dubai, UAE.

The minister pointed to Egypt’s steps to advance national efforts and enhance regional and international action to consolidate the climate concepts, preserve the environment, and implement clear and ambitious plans for climate financing through an international framework for innovative financing.

She underlined the international financial institutions’ need to expand climate finance based on various pillars related to inclusion and justice, to ensure that the whole world, particularly the developing and emerging countries, can benefit from climate financing and green investments.

Mashat said all stakeholders, including women, youth and the private sector, shall participate in developing climate action plans and financing eco-friendly projects through innovative financing solutions, risk reduction tools and blended financing.

She pointed to the successive measures taken by the Egyptian government to promote green investments and push towards a green economy.

These include decisions to increase green public investments from 15% in the current fiscal year to 30% in the next fiscal year, followed by a 50% increase in 2024/2025.

In 2021, Egypt secured the first green financing from international and regional banks worth $1.5 billion, directed to finance eco-friendly projects such as water treatment and desalination plants, solid waste management, canal lining, and seawater desalination.

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Arab World

Portugal Says Israel Undermining Palestinian State Through Settlement Expansion

Palestinian Foreign Affairs and Expatriates Minister Varsin Aghabekian Shahin (L) and Portuguese Foreign Minister Paulo Rangel (R) attend a press conference after a meeting at Necessidades Palace in Lisbon, Portugal, 14 September 2026. (EPA)
Palestinian Foreign Affairs and Expatriates Minister Varsin Aghabekian Shahin (L) and Portuguese Foreign Minister Paulo Rangel (R) attend a press conference after a meeting at Necessidades Palace in Lisbon, Portugal, 14 September 2026. (EPA)
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Portugal Says Israel Undermining Palestinian State Through Settlement Expansion

Palestinian Foreign Affairs and Expatriates Minister Varsin Aghabekian Shahin (L) and Portuguese Foreign Minister Paulo Rangel (R) attend a press conference after a meeting at Necessidades Palace in Lisbon, Portugal, 14 September 2026. (EPA)
Palestinian Foreign Affairs and Expatriates Minister Varsin Aghabekian Shahin (L) and Portuguese Foreign Minister Paulo Rangel (R) attend a press conference after a meeting at Necessidades Palace in Lisbon, Portugal, 14 September 2026. (EPA)

Portugal's ‌foreign minister said on Monday that Israeli settlement expansion and economic pressure in the occupied West Bank and East Jerusalem were undermining prospects for a viable Palestinian state.

Foreign Minister Paulo Rangel said Israel's E1 settlement plan was "extremely pernicious" because ‌it would ‌divide the West Bank, ‌isolate ⁠East Jerusalem and ⁠was incompatible with a two-state solution.

Israel's withholding of Palestinian tax revenues amounted to a "brutal strangulation" of the Palestinian Authority's finances, preventing the economy from ⁠functioning, he said after meeting ‌Palestinian Foreign ‌Minister Varsen Aghabekian Shahin in Lisbon.

‌Rangel also cited the closure ‌of Christian schools in East Jerusalem as evidence of worsening conditions there.

Portugal recognized the State ‌of Palestine a year ago.

Rangel said the two-state ⁠solution ⁠was the only way to guarantee peaceful coexistence between Israelis and Palestinians.

Israel said last week it was closing Britain's consulate in East Jerusalem in response to plans by the UK, France and Canada to block imports from Israeli settlements in the West Bank.

Arab World

UN Warns Key Humanitarian Network in Sudan Could ‘Collapse within Weeks’

A Sudanese woman, who fled the conflict in Geneina in Sudan's Darfur region, talks to her relative through a fence next to makeshift shelters, in Adre, Chad August 5, 2023. (Reuters)
A Sudanese woman, who fled the conflict in Geneina in Sudan's Darfur region, talks to her relative through a fence next to makeshift shelters, in Adre, Chad August 5, 2023. (Reuters)
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UN Warns Key Humanitarian Network in Sudan Could ‘Collapse within Weeks’

A Sudanese woman, who fled the conflict in Geneina in Sudan's Darfur region, talks to her relative through a fence next to makeshift shelters, in Adre, Chad August 5, 2023. (Reuters)
A Sudanese woman, who fled the conflict in Geneina in Sudan's Darfur region, talks to her relative through a fence next to makeshift shelters, in Adre, Chad August 5, 2023. (Reuters)

The United Nations warned on Monday that a key system for bringing aid into conflict-torn Sudan risked collapsing completely unless it receives more funding immediately.

"The entire humanitarian system could collapse within weeks if we don't act now," said Amy Pope, head of the International Organization for Migration.

"Without new funding, we won't be able to get help where it's needed most."

The war between Sudan's regular army and the paramilitary Rapid Support Forces (RSF) that erupted in April 2023 has killed more than 200,000 people, aid workers estimate, and created the world's largest hunger and displacement crisis.

The IOM stressed that the Common Humanitarian Pipeline logistics system it runs allows a network of more than 100 national and international NGOs to bring desperately needed shelter and other non-food aid into the African country.

Since the start of the war, it said, the system had reached 2.84 million people.

But it warned that the reach had been shrinking due to falling funds, even as the needs remain at an all-time high.

While the pipeline helped get aid to more than one million people in 2024, only 330,000 had received assistance like shelter and emergency support kits through the system so far in 2026, the IOM said.

"Without immediate donor support, current shelter, sanitation and emergency household relief items are expected to be depleted by the end of September," the UN's migration agency said in a statement.

"The warehousing and operational capacity that keeps the pipeline functioning can only be sustained until December 2026," it stressed.

The IOM said it would need $15 million just to maintain the pipeline at its 2026 minimum capacity for the next 12 months, while it would require $42 million to return to its 2024 level.

It said cutting off access to shelter assistance carried far wider risks.

"Prolonged exposure to weather, disease and insecurity can heighten risks of gender-based violence, family separation and eviction in overcrowded sites," it pointed out.

"Shelter is the foundation from which protection, health and recovery can begin," Pope insisted.

"When the pipeline stops, it is not simply warehouses that become empty. The entire humanitarian response becomes harder to deliver."

Arab World

Lebanon’s Divide Over Israel Talks Reaches Religious Leaders

Lebanese President Joseph Aoun and an accompanying delegation tour the southern city of Nabatieh on Saturday (EPA)
Lebanese President Joseph Aoun and an accompanying delegation tour the southern city of Nabatieh on Saturday (EPA)
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Lebanon’s Divide Over Israel Talks Reaches Religious Leaders

Lebanese President Joseph Aoun and an accompanying delegation tour the southern city of Nabatieh on Saturday (EPA)
Lebanese President Joseph Aoun and an accompanying delegation tour the southern city of Nabatieh on Saturday (EPA)

Lebanon’s divisions over negotiations with Israel have reached its religious leadership, with Maronite Patriarch Beshara al-Rahi backing state efforts to establish a monopoly on arms and pursue talks, and Jaafari Mufti Sheikh Ahmed Qabalan accusing the state of colluding against South Lebanon.

The split turns political disagreements over the government’s policies into a sectarian dispute as talks stall - with an eighth round of negotiations with Israel in Rome postponed until early next month - and the Israeli army continues strikes in the south.

Lebanon’s Shiite religious establishment, Hezbollah and the Amal Movement have long opposed direct negotiations, but Qabalan’s attack was the strongest since the talks began.

President Joseph Aoun has repeatedly pledged to protect Lebanon’s sovereignty, secure an Israeli withdrawal and return residents to occupied areas in the south through negotiations, which he sees as the only available alternative to war.

On Sunday, on the anniversary of the assassination of President-elect Bachir Gemayel, Aoun renewed his pledge to build “a strong and just state,” capable of safeguarding its independent decision-making, sovereignty and citizens’ dignity.

Christian Support for Official Position

Al-Rahi said in his Sunday sermon that placing all weapons under state control “is not the triumph of one side over another, nor a confrontation with a sect or group, but the affirmation of a single national authority.”

“The state cannot function with two decision-making authorities, nor can sovereignty be complete when there are multiple authorities,” he added.

Backing the presidency’s approach, al-Rahi called for negotiations and mediation to produce tangible results, including an end to attacks, Israeli withdrawal and stability under credible guarantees protecting Lebanon’s rights and sovereignty. Negotiations, he said, should not become “an open-ended process with no horizon.”

Qabalan Attacks the State

Qabalan took the opposite position after Aoun visited Nabatieh and pledged state support for the south, saying Israeli withdrawal, the return of prisoners and displaced residents, and reconstruction were national priorities.

In a message published by the state-run National News Agency (NNA), Qabalan accused the executive branch of “strangling and besieging” the south and “colluding against it.”

He warned of what he called government-driven “sedition,” accusing the executive branch of threatening national partnership and seeking to abandon the southern front, which he described as central to Lebanon’s sovereignty and existence.

“The issue today is not that the executive authority does not want to defend the south,” Qabalan said, “but rather the totality of policies that strangle the south, besiege it, drain it and deprive it of every means of life.”

He added that Lebanon’s security was indivisible and called for national action to prevent what he described as “the worst internal strife,” accusing the authorities of giving Israel enough time to continue destroying the south.