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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
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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.

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Arab World

After US Exemption, UN Says More Significant Syria Sanctions Work Needed

A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
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After US Exemption, UN Says More Significant Syria Sanctions Work Needed

A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)
A general view shows Damascus from Mount Qasioun, after one month since the ousting of Syria's Bashar al-Assad, in Damascus, Syria, January 7, 2025. (Reuters)

A US sanctions exemption for transactions with governing institutions in Syria is welcome, but "much more significant work ... will inevitably be necessary," the UN special envoy on Syria, Geir Pedersen, told the Security Council on Wednesday.

After 13 years of civil war, Syria's President Bashar al-Assad was ousted in a lightening offensive by opposition forces led by the Hayat Tahrir al-Sham (HTS) group a month ago.

The US, Britain, the European Union and others imposed tough sanctions on Syria after a crackdown by Assad on pro-democracy protests in 2011 that spiraled into war. But the new reality in Syria has been further complicated by sanctions on HTS - and some leaders - for its days as an al-Qaeda affiliate.

"I welcome the recent issuance of a new temporary General License by the United States government. But much more significant work in fully addressing sanctions and designations will inevitably be necessary," Pedersen told the council.

The US on Monday issued a sanctions exemption, known as a general license, for transactions with governing institutions in Syria for six months in an effort to ease the flow of humanitarian assistance and allow some energy transactions.

"The United States welcomes positive messages from Hayat Tahrir al-Sham, but will ultimately look for progress in actions, not words," deputy US Ambassador to the UN Dorothy Camille Shea told the Security Council.

The foreign ministry in Damascus on Wednesday welcomed the US move and called for a full lifting of restrictions to support Syria's recovery.

French Foreign Minister Jean-Noel Barrot said earlier on Wednesday that European Union sanctions on Syria that obstruct the delivery of humanitarian aid and hinder the country's recovery could be lifted swiftly.

Russia's UN Ambassador Vassily Nebenzia criticized the sanctions imposed on Syria by Washington and others, adding: "As a result, the Syrian economy is under extreme pressure and is not able to cope with the challenges facing the country." Russia was an Assad ally throughout the war.

'END THE SUFFERING'

Formerly known as Nusra Front, HTS was al-Qaeda's official wing in Syria until breaking ties in 2016. Along with unilateral measures, the group has also been on the UN Security Council al-Qaeda and ISIS sanctions list for more than a decade, subjected to a global assets freeze and arms embargo.

There are no UN sanctions on Syria over the civil war.

Syria's UN Ambassador Koussay Aldahhak was appointed a year ago by Assad's government but told the council on Wednesday that he was speaking for the caretaker authorities.

"It is high time to end the suffering, to enable Syrians to live in security and prosperity, to live a dignified life in their country, to build a better future for their country," Aldahhak said.

"For this reason, we call upon the United Nations and its member states to immediately and fully lift the unilateral coercive measures to provide the necessary financing to meet humanitarian needs and recover basic services," he said.

Pedersen said he is seeking to work with the caretaker authorities in Syria "on how the nascent and important ideas and steps so far articulated and initiated could be developed towards a credible and inclusive political transition."

Pedersen said attacks on Syria's sovereignty and territorial integrity must stop, specifically calling out Israel.

As Assad's government crumbled towards the end of last year, Israel launched a series of strikes against Syrian military infrastructure and weapons manufacturing sites to prevent them falling into the hands of enemies.

"Reports of the IDF using live ammunition against civilians, displacement and destruction of civilian infrastructure are also very worrying," Pedersen said. "Such violations, along with Israeli airstrikes in other parts of Syria – reported even last week in Aleppo – could further jeopardize the prospects for an orderly political transition."