Egypt's Minister of Planning and Economic Development Hala El-Said and Minister of Environment Yasmine Fouad held a virtual meeting to discuss Egypt's transformation to a green economy and utilising green bonds.
El-Said stressed the importance of setting an emission reduction strategy within the framework of Egypt's Vision 2030.
The minister added that guidelines for general environmental standards will be developed in across Egypt's various sectors, which will come within a joint brochure that will be shared at the two ministries.
She asserted that the state's plan is not limited to investments, but includes all economic dimensions, with the planned code forming the basis of the budget law.
El-Said explained that the state will bear a high cost by not taking into account environmental considerations, and that investing in infrastructure, human resources and the training process provides medium-term cost savings.
Fouad reviewed the environmental standards that must be taken into account in investment projects, given the importance of the environmental dimension and its overlap in development projects.