Egypt in talks with European bank over environment preservation

Environment Minister Khaled Fahmi met on Monday with the European Bank for Reconstruction and Development mission here for talks over preserving the environment and facing climate changes.

Fahmi, in his capacity as head of the African environment ministers conference, urged the bank to boost the implementation of the African Initiative for Renewable Energy, that was launched on the sidelines of the Climate Change Summit in Paris.

Philip ter Woort, Country Manager for Egypt at the bank, said the bank decided to allocate 40 percent of its annual budget to green technologies as part of efforts to lower dioxide emissions.

The bank representatives expounded initial results of the study they are conducting on the low-carbon future of the cement industry in Egypt.

The study aims at analyzing economic, political and legislative frameworks of developing a low-carbon cement industry in Egypt.