Egypt, UNDP discuss new fund to protect Red Sea coral reefs
Local Development and Environment Minister Manal Awad had a meeting with Deputy Resident Representative of the United Nations Development Program (UNDP) Ghimar Deeb to discuss the establishment of an Egyptian fund to finance the protection of Red Sea coral reefs. Awad said the proposed fund would help attract long-term investment to support marine conservation and … The post Egypt, UNDP discuss…
Minister Manal Awad and the Deputy Resident Representative of UNDP Ghimar Deeb met to discuss launching an Egyptian fund to safeguard Red Sea coral reefs. Awad highlighted the fund's potential to draw long-term investment for marine conservation and sustainable tourism, emphasizing the reefs' importance to tourism, employment, and local economies.
This fund, a major outcome of the Egyptian Red Sea Initiative, would merge grant money for conservation work with an investment portfolio aimed at pulling in private money and boosting reef-friendly industries. Deeb affirmed that the fund would aid Egypt's biodiversity objectives, broaden financial backing for the environment, and spur more private-sector participation.
Written by urgent.news from Egypt Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
